A new generation of accountants is helping low-income families secure millions in tax refunds through the IRS VITA program.
Fortune reported that more Gen Zers are choosing careers in finance and accounting as older CPAs near retirement. Many students are already stepping up by volunteering with the IRS Volunteer Income Tax Assistance (VITA) program, which helps low-income taxpayers file for free and save on costly prep fees.
“Accounting is the science of the business world,” says Alana Kelley, a junior at Oregon State University studying accounting and biohealth science.
Kelley has helped dozens of families file their taxes for free this tax season through her school’s VITA program. Last year, more than 280 CSUN students helped over 9,000 low-income taxpayers secure nearly $11 million in tax refunds and $3.6 million in tax credits — while also saving them over $2 million in tax prep fees.
There are even Gen Z students outside of business majors — studying fields like computer science, public health, and psychology — who are eager to join the tax assistance program. The students work hard to help families in need, with some putting in long hours — working from 10 a.m. to 10 p.m. — to help families navigate their returns and understand how much they’re owed or may need to pay.
The rise of Gen Z accountants signals a shift as the industry grapples with a talent shortage. Once considered one of America’s dullest jobs, the accounting field has seen 340,000 professionals leave in the past five years, with estimates suggesting that 75% of remaining accountants will retire in the next decade. However, Gen Z is recognizing the lucrative potential of a career in accounting.
“While accounting may have a certain image in the background among young people of being not as intriguing and exciting, once they actually engage in the practice and see how it plays out in a real world, it changes people’s mind and views,” said CSUN program’s current director, Rafael Efrat.
In addition to helping Americans save money, student volunteers are gaining valuable hands-on experience that prepares them to excel in their careers and land six-figure salaries upon graduation. Working with clients who might have complex tax situations offers student volunteers real-world exposure that boosts their confidence in the job.
“We throw the students into the water, essentially, and let them swim, and then students actually live up to the challenge,” Efrat said.
With more Gen Zers prioritizing job security over flexibility, accounting appears to be gaining traction as a promising career path.
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