TerpTax, Inc.

What TerpTax, Inc. does

TerpTax, Inc. is a non-profit organization affiliated with the R.H. Smith School of Business at the University of Maryland, College Park that provides free federal and state tax preparation services under the IRS Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. The organization is supervised by Professor Samuel Handwerger, CPA, and staffed by IRS-certified volunteers. TerpTax serves low-to-mid income individuals (income $69,000 or less), with particular specialization in non-resident alien filings for F-1 and J-1 visa holders, including handling of W-2, 1042-S, and 1040-NR forms and treaty exemption questions. Eligible customer segments include UMD students, scholars, and community members, elderly taxpayers, and persons with disabilities.

TerpTax operates through multiple service delivery channels: synchronous in-person appointments at VMH 3505 in College Park on Tuesdays 6:00–9:00pm, asynchronous virtual appointments where clients upload documents and receive completed returns without live attendance, and an FSA Self-Preparation Tool built on TaxSlayer that enables F-1/F-2 and J-1/J-2 visa holders to self-prepare returns with step-by-step guidance and volunteer support. The organization also maintains a satellite location in Cherry Hill, Baltimore, for asynchronous service delivery to local low-to-mid income community members. Educational resources including topic videos, how-to videos, and published memos (e.g., Roth vs Traditional IRAs, Form 1099-K, Education Credits, Non-Resident filing) are produced to support client understanding of tax terminology and regulations. A referral pathway to the UMD Law School Low-Income Taxpayer Clinic exists for tax controversy cases.

The business model is freemium in classification but does not generate fee revenue; all services are provided free of charge to eligible individuals per VITA/TCE guidelines. No funding rounds, investors, grants, or sponsorships are disclosed in the source data. The organization is staffed by named student team leaders (Raquel, Sophia, Henry, James, Zack, Sharon) and supervised by a single CPA, with the service window operating annually from February 10 through April 14, 2026. The core technology stack is the third-party TaxSlayer platform used for the self-preparation tool; the underlying appointment scheduling uses an external booking system (TaxTerp.as.me), and the website is hosted on Squarespace.

Name

TerpTax, Inc.

Legal name

TerpTax, Inc.

Website

https://terptaxumd.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

TerpTax is a University of Maryland-affiliated non-profit that provides free federal and state tax preparation under the IRS VITA/TCE program to low-to-mid income individuals, specializing in non-resident alien filings for F-1 and J-1 visa holders.

Ownership category

akta.pro rank

Product category

Tax Preparation Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412), Social Assistance (624)

SIC

Services-Social Services (8300)

akta.pro primary industry

Tax & Financial Document Preparation Organization (Non-Advisory) (HSAFAEAG)

akta.pro secondary industry

Taxes & Filing Basics (Withholding, Deductions, Credits) (EDAAAJAG)

Keywords

• Free tax preparation
• VITA tax services
• Nonprofit tax assistance
• International student taxes
• Community tax clinic

Headquarters

HQ city

College Park

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Free Tax Preparation Services: As a non-profit organization, TerpTax provides free tax preparation services to eligible low-to-mid income individuals under the IRS VITA/TCE program. Revenue is not generated from service fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

TerpTax is a non-profit IRS VITA/TCE chapter that provides free federal and state tax return preparation to low-to-mid-income individuals (income $69,000 or less) in the University of Maryland, College Park community and Cherry Hill, Baltimore. Services are delivered through in-person appointments staffed by IRS-certified volunteers, asynchronous virtual appointments, and a TaxSlayer-based FSA Self-Preparation Tool for F-1/J-1 visa holders, with support for both resident and non-resident alien filings.

Product overview

TerpTax is a non-profit organization offering free tax preparation services under VITA/TCE guidelines. The service portfolio includes three main delivery methods: (1) In-Person Appointments for synchronous tax preparation with certified volunteers, (2) Asynchronous Appointments allowing clients to submit documents remotely without attending live sessions, and (3) the FSA Self-Preparation Tool using TaxSlayer software for eligible F-1/F-2 and J-1/J-2 visa holders to prepare their own returns. Additionally, the organization provides Tax Education Resources including how-to videos and informational articles, Virtual Appointment options, and Tax Controversy Cases Assistance through referral to the UMD Law School clinic. Services are available to low-to-mid-income individuals in the University of Maryland, College Park community and Cherry Hill, Baltimore, with appointments scheduled February 10 through April 14, 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• In-Person Tax Preparation Appointments Synchronous, in-person appointments at TerpTax's College Park clinic (VMH 3505) where IRS-certified volunteers prepare federal and state tax returns for clients earning $69,000 or less, under VITA/TCE guidelines. Available Feb 10 – Apr 14, 2026.
• Asynchronous Tax Preparation Appointments Non-resident and resident asynchronous appointments where clients upload documents and the TerpTax team prepares the return without requiring the client to be present (virtually or in-person) during the appointment.
• FSA Self-Preparation Tool (TaxSlayer) Free, self-service federal and state tax return preparation tool powered by TaxSlayer, available to F-1/F-2 and J-1/J-2 visa holders at UMD, with step-by-step instructions and volunteer support during in-person clinics.

Quantifiable outcome

• Free tax preparation services for individuals with income $69,000 or less
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

One partnership is on record.

• TaxSlayercoreTechnology or IntegrationTaxSlayer provides the FSA Self-Preparation Tool used by TerpTax clients for free federal and state tax return preparation. The platform enables self-service tax filing through a web-based interface with document upload capabilities.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Intuit TurboTax: TurboTax dominates the consumer tax preparation market and offers a free edition for simple W-2 filers under the IRS VITA income threshold. While much broader in scope, it directly competes for TerpTax's eligible client base and increasingly supports non-resident filings.
• H&R Block: H&R Block offers retail and online tax preparation services across the US, including DIY software and in-person assisted preparation. It overlaps with TerpTax by serving low-to-mid-income filers and provides free filing through IRS Free File program partnerships.
• Liberty Tax: Liberty Tax operates retail tax preparation offices providing assisted return preparation for individuals and small businesses. It competes in the in-person assisted-preparation market, particularly for filers who need help with non-standard situations.
• Jackson Hewitt: Jackson Hewitt is a national tax preparation retail chain with assisted in-person services, particularly serving lower-income filers in Walmart and strip-mall locations. It competes with TerpTax for the same in-person assisted-preparation customer segment.

Direct peers

• FreeTaxUSA: FreeTaxUSA offers federal returns free of charge with a low state fee, directly targeting the same price-sensitive demographic as TerpTax. It is a closely comparable low-cost self-prep alternative for the under-$69K income group.
• TaxSlayer: TaxSlayer is the technology partner that powers TerpTax's FSA Self-Preparation Tool and also sells consumer tax preparation software directly at low price points. It directly competes for the same self-prep tax filer demographic and represents the underlying technology stack TerpTax distributes for free.
• TaxAct: TaxAct provides affordable online tax preparation with a free tier for simple returns, competing directly for cost-conscious individual filers. Like TerpTax, it serves the mid-market DIY segment with step-by-step guidance.

Emerging players

• Cash App Tax: Cash App Tax (formerly Credit Karma Tax) offers completely free federal and state tax filing with mobile-first UX. It targets younger, lower-income filers and increasingly handles complex situations, posing a long-term competitive threat to VITA programs.
• 1040.com: 1040.com offers inexpensive online tax preparation for straightforward filers, targeting the same price-sensitive demographic. It represents one of many affordable self-prep alternatives competing for TerpTax's eligible client base.

Others

• United Way VITA: United Way is the largest national coordinator of VITA sites, providing grant funding, training infrastructure, and quality oversight to volunteer tax preparation programs. It is an ecosystem partner and potential funding channel rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/terptax-inc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TerpTax, Inc.