Walsh College Student Group Earns Three Community Service Awards

Walsh College has received three awards on behalf of its Accounting and Tax Student Organization (ATSO) for its volunteer initiatives supporting preparation of tax returns for low-income families.

The awards are the Masco Community Service Award from the Accounting Aid Society (AAS), for 2,000 hours of service from 100 Walsh students; the Spirit of Detroit Award from the Detroit City Council, in recognition of exceptional achievement, outstanding leadership, and dedication to improving the quality of life; and the State of Michigan Special Tribute Award.

ATSO encourages accounting and tax students to volunteer their time to various non-profit activities and efforts, focusing on the use of accounting and business expertise. It is just one of many Walsh College student groups adding social, educational, community service, and leadership gravitas to a quality Walsh business education and campus life.

“The initiatives demonstrated ATSO’s enthusiasm for service to others and for the accounting profession,” said Deborah Mourray, academic and ATSO advisor, Walsh College. “ATSO’s efforts positively reflect the high-quality character of all Walsh students and their willingness to become involved in their community.”

She added that it is important to note that students do not receive academic credit for their volunteer hours in the AAS program.

For more information on Walsh College, visit www.walshcollege.edu.

WALSH COLLEGE
Founded in 1922, Walsh College is a private, not for profit institution offering upper-division undergraduate and graduate business and technology degrees and certificate programs. One of Southeast Michigan’s largest business schools, Walsh has locations in Troy, Novi, Clinton Township, and Port Huron, as well as online.

Walsh’s business services division offers the Walsh Institute, which provides solutions for businesses through training, continuing education, and consulting.

Walsh is accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools (www.ncahlc.org; phone: 312-263-0456). The Accreditation Council for Business Schools and Programs (ACBSP, www.acbsp.org) accredits specific degree programs.

 

Accounting Aid Society, Walsh College Partnership Helps Non-Profits with Tax Return Preperation

Accounting Aid Society (AAS) and the Walsh College Accounting and Tax Student Organization (ATSO) are piloting a tax return preparation program to help resource-limited charities, nonprofit agencies, and other tax-exempt organizations in southeast Michigan maintain their tax-exempt status.

Federal tax-exempt status allows nonprofit agencies to apply directly for grant funds. Most foundation and government grants require 501 (c) (3) status, part of the Internal Revenue Code. The status also allows potential donors to make tax deductible contributions.

Most organizations exempt from income tax must file an annual information return. In the Pension Protection Act of 2006, the IRS was authorized to revoke the tax-exempt status of organizations that failed to file the required tax return (Form 990, 990-N, 990-PF or 990-EZ).

“Many tax-exempts operate with extremely limited resources or with such small budgets that just trying to keep their lights on is a struggle,” says Daniel S. Hoops, chair, Accounting and Taxation Department, Walsh College. “Complying with the IRS reporting requirements becomes secondary and, unfortunately, sometimes nonexistent.”

Accounting Aid Society, a nonprofit with more than 35 years of income tax preparation assistance, has a long history of working with individuals and organizations through various partnerships and collaborations in metropolitan Detroit.

“Expanding this support to our friends in the nonprofit community and partnering with the students at Walsh College is a win-win for everyone involved,” says Kathleen Hatke Aro, AAS president.

AAS and ATSO will combine their network of tax professionals and tax students to soften the IRS demands placed on tax-exempt organizations. For more information, contact Diana Goode, AAS controller, at diana@theform990.com.

ACCOUNTING AID SOCIETY

Founded in 1972, Accounting Aid Society is a nonprofit organization who provides tax assistance and promotes the economic self-sufficiency of low to moderate income families, seniors and others in need through volunteerism and partnerships.

WALSH COLLEGE
Founded in 1922, Walsh College is a private, not for profit institution offering upper-division undergraduate and graduate business and technology degrees and certificate programs. One of Southeast Michigan’s largest business schools, Walsh has locations in Troy, Novi, Clinton Township, and Port Huron, as well as online. Walsh’s business services division offers the Walsh Institute, which provides solutions for businesses through training, continuing education, and consulting.

Walsh is accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools (www.ncahlc.org; phone: 312-263-0456) and the International Assembly for Collegiate Business Education (IACBE, www.iacbe.org). The Accreditation Council for Business Schools and Programs (ACBSP, www.acbsp.org) accredits specific degree programs.