It’s not rocket science for someone who’s used to dealing with numbers. And what about me? Even though I’ve never done a tax return in my life, I can figure out an individual return for a lower-income individual and calculate the EITC. The dozens of colleges, universities, and business schools in the area that offer accounting programs have thousands of students that can use this opportunity as a learning requirement toward their degree. Individual CPAs who understand tax preparation can contribute their time too. The Big 4 firms, and a dozen other great ones - like CliftonLarsonAllen, Marcum, EisnerAmper and Isdaner & Company - who profit from their location near the city also have philanthropic and volunteer programs. They can do these returns and help those in need get the money they deserve from Washington. There is no shortage of tax accountants in Philadelphia. The “Big 4” firms - KPMG (my alma mater), PriceWaterhouse Coopers, Ernst & Young, and Deloitte - all have large offices in the city with hundreds of tax professionals employed. The Pennsylvania Institute of Certified Public Accountants - a great organization that I belong to - boasts more than 22,000 members statewide, with the majority coming from their Greater Philadelphia Chapter. They work independently, for public firms or for private companies.
However, there are thousands of fellow CPAs in the Philadelphia area who do. Unfortunately (or fortunately, depending on how you look at it) I never specialized in taxes.
Are you listening, accounting colleagues? Domb’s right: It’s crazy.īut this can also be easily fixed. So benefits like the EITC are ignored, the money goes wasted, and people who could use the cash go without. But for most it’s because filing tax returns - and calculating the Earned Income Tax Credit - isn’t so easy for them, regardless of how “simple” the IRS claims it to be. For some it’s because they don’t want to report anything to the government – even though the law requires it above a certain income threshold. In fact, many people in poverty may not be filing tax returns at all.
Why would so many people who could use this money not apply for it? There’s a simple answer: They don’t know about it.
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