The competition began with 60 graduate and undergraduate teams from 40 colleges and universities across the nation. Each team of up to four students was given five hours to complete a comprehensive case study and provide a written solution that included an analysis of information, identification of data issues, and alternative tax treatments for a fictitious client.
The field was whittled down to six graduate and six undergraduate teams who moved onto the final competition which was held in Orlando, Florida in November. The winning graduate team is from Brigham Young University and the winning undergraduate team is from the College of William & Mary. Winning team members each receive a $1,000 scholarship and their school receives $10,000.
Second place teams are from the University of Denver, graduate, and Brigham Young University, undergraduate. Second place winners receive $500 individual scholarships and their schools receive $5,000.
The Deloitte Foundation, a non-profit arm of Big Four firm Deloitte & Touche, sponsors the annual competition. âThis unique national competition enhances the level of student expertise in taxation and provides participants with a valuable educational experience that will help prepare them for their careers ahead,â said Barry Salzberg, D&T's national managing partner of tax services.
Other school teams that made it to the final competition in Orlando include graduate teams from Baylor University, University of Kansas, University of Southern California, and Utah State University, and undergraduate teams from University of Illinois, University of Iowa, University of North Carolina at Charlotte, and University of Wisconsin. Students on these teams each receive $250 scholarships and their schools receive $2,500.