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Smith School News

March 5, 2025
TerpTax: Roth vs. Traditional IRAs
CPA Samuel Handwerger explains the key differences between Traditional and Roth IRAs. Traditional IRAs offer tax-deferred savings, while Roth IRAs provide tax-free withdrawals. Future tax rates and career trajectory matter, making the choice complex. Consistent saving is the most crucial factor.
Read News Story : TerpTax: Roth vs. Traditional IRAs
February 13, 2025
TerpTax: Understanding Education Tax Credits
Education tax credits can significantly lower tax bills, says Smith professor Samuel Handwerger. The American Opportunity and Lifetime Learning credits offer key savings, but eligibility rules matter. Students may claim credits if parents opt out. TerpTax offers free tax prep through April 14.
Read News Story : TerpTax: Understanding Education Tax Credits
January 22, 2025
TerpTax Alert: Unexpected $1,400 IRS Payments, Some in Error, to F-1 Students
Some F-1 visa students at UMD are receiving $1,400 IRS payments due to errors in stimulus eligibility. TerpTax, led by accounting lecturer Samuel Handwerger, advises returning these payments to avoid future tax and immigration complications. Assistance is available through TerpTax.
Read News Story : TerpTax Alert: Unexpected $1,400 IRS Payments, Some in Error, to F-1 Students
January 6, 2025
Scammers Meet Their Match: Student Fraud Investigators Spot Rising Threat
When University of Maryland students in the Justice for Fraud Victims project received suspicious job offers via text, their fraud investigation skills—sharpened under faculty advisor Samuel Handwerger at the Smith School—helped uncover "task scams," a scheme costing victims $220M since 2020.
Read News Story : Scammers Meet Their Match: Student Fraud Investigators Spot Rising Threat
December 6, 2024
For Whom Does the Bell Toll? It Tolls for CTA
University of Maryland’s Justice for Fraud Victims (JFV) student volunteers recently completed two court-used forensic cases and assisted HOAs with Corporate Transparency Act compliance before a court suspended the law, giving students firsthand experience in real-world legal unpredictability.
Read News Story : For Whom Does the Bell Toll? It Tolls for CTA
November 8, 2024
Smith’s Justice for Fraud Victims Making Early Impact
In fall 2023, the University of Maryland’s Smith School launched the Justice for Fraud Victims (JFV) initiative, led by Accounting Lecturer Samuel Handwerger. Smith and UMD students investigate fraud cases, producing reports that have already proven effective in court.
Read News Story : Smith’s Justice for Fraud Victims Making Early Impact
March 12, 2024
Smith’s Justice for Fraud Victims Offering Pro Bono Control Risk Assessment for Nonprofits, Small Firms
Justice for Fraud Victims (JFV) at UMD offers pro bono risk assessments for small businesses and nonprofits. Led by Samuel Handwerger, CPA-supervised assessments identify control weaknesses, providing pragmatic solutions without budget increases. Launched in 2023, JFV engages students in real fraud cases, supported by local law enforcement.
Read News Story : Smith’s Justice for Fraud Victims Offering Pro Bono Control Risk Assessment for Nonprofits, Small Firms
February 19, 2024
TerpTax Resumes Free Tax Preparation Services
TerpTax, a free tax service at the University of Maryland, caters to students and low-to-mid-income individuals. Under the direction of Smith Accounting Lecturer Samuel Handwerger, a CPA with a master’s in taxation, it specializes in international student returns. Appointments available until April 15, 2024, offer valuable tax filing assistance.
Read News Story : TerpTax Resumes Free Tax Preparation Services
May 10, 2016
TerpTax Students Serve Community, Build Expertise

For a second year in a row, TerpTax “made a big impact” on the campus and local community, say its organizers. The program’s 70-plus student volunteers from the University of Maryland’s Robert H. Smith School of Business prepared tax returns yielding about $200,000 in federal refunds collectively for more than 300 UMD students, staff members and off-campus community members.

Read News Story : TerpTax Students Serve Community, Build Expertise

External Articles

Tax Insights and Fraud Awareness
The Spy in Your Pocket (Pegasus spyware)
By Samuel Handwerger

Expert reveals 5 simple tips for creating a sustainable budget in 2026
Michael McMillan, a professor and co-director of the Financial Wellness Center at the University of Maryland, shared five simple tips with The Independent for creating a sustainable personal budget.

WalletHub’s Ask the Experts
Budgeting and Happiness
By Michael McMillan

WalletHub’s Ask the Experts
Why Your Credit Card Might Be Your Best Defense Against Fraud
By Samuel Handwerger

WalletHub’s Ask the Experts
Strategically Allocating Your Spending Using Percentage-based Goals
By Michael McMillan

Investopedia
How Does Your Household Income Compare to Others in Your Age Group?
By Sara Clarke

WalletHub’s Ask the Experts
Loud Budgeting
By Michael McMillan

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