More than 230 students from 44 colleges and universities gathered at 11 regional sites across the country on October 18, 2008 to tackle real world tax issues and compete for scholarship awards in the seventh annual Deloitte Tax Case Study Competition.

This prestigious national collegiate competition attracted nearly sixty teams to analyze a hypothetical case study and apply their knowledge, skills, and teamwork in a race against the clock and each other to solve complex tax scenarios. The competition is sponsored by the Deloitte Foundation, the non-profit services arm of Deloitte LLP.

"Our goal is to engage and inspire the tax leaders of tomorrow and complement the education they are receiving from the nation's top accounting and tax programs," said Shaun Budnik, President of the Deloitte Foundation and partner of Deloitte LLP. "This competition takes students' preparation for the business world beyond the classroom and presents a challenge they would encounter as tax professionals in a client service setting today."

Competitions were held on October 18 in Atlanta, Boston, Chicago, Columbus, Denver, Kansas City, Los Angeles, Milwaukee, New York, Salt Lake City, and Seattle. Following the regional events, the top 12 teams will be selected to advance to the National Competition, which will be held in Orlando, Florida on November 21-23, 2008. Approximately $100,000 in individual scholarships and institutional awards will be granted following the competitions.

The Tax Case Study Competition features two divisions, graduate and undergraduate, and two levels of competition, regional and national. At each level, teams of up to four students are given five hours to complete a case study that requires participants to analyze information, identify issues and alternative tax treatments, and develop a recommended solution that appropriately cites the Internal Revenue Code and Treasury Regulations. At the end of the competition, each team prepares a written solution to their case and submits it to a panel of judges from Deloitte Tax LLP for evaluation.

"It is critical that the U.S. has a strong pipeline of bright talent to remain consistently competitive in a global economy. This national competition allows leading tax students to hone their analytical and problem-solving skills as they prepare for their careers. Deloitte is honored to host this important tax education event," said Chet Wood, chairman and chief executive officer of Deloitte Tax LLP.

About the Deloitte Foundation

The Deloitte Foundation is a not-for-profit organization that supports teaching, research, and curriculum innovation in accounting, business, and related fields within the U.S. The Foundation, founded in 1928, supports an array of national programs, which are relevant to a variety of professional services, and which benefit middle/high school students, undergraduates, graduate students, and faculty. For more information, please visit the Deloitte Foundation Web page.