WESTLAKE, Texas, Jan. 23, 2013 /PRNewswire/ -- The University of Texas at Austin's five-student team won the 2013 Deloitte FanTAXtic national tax case study competition, as well as $2,000 in scholarships for each student on the winning team and a $10,000 institutional award. Held at Deloitte University's landmark campus for learning and leadership development, the Deloitte FanTAXtic finals included nine teams from colleges and universities across the U.S. vying for the top spot by working together to solve a complex, issues-driven business tax case simulation.
Sponsored by Deloitte with program management support by the Deloitte Foundation, Deloitte FanTAXtic originated in 2002 and is designed to familiarize students with the tax profession early in their academic careers. The interactive case study competition includes case simulation, role playing and presentations to help students better understand the types of experiences and business challenges they can expect from a career in tax.
"Deloitte sponsors this competition to help tax students build their skills and increase their understanding of our profession," said Carl Allegretti, chairman and chief executive officer, Deloitte Tax LLP. "The simulation format allows students to network and learn from our tax professionals and each other. While the solutions presented by all of the teams add to my confidence in the future of the tax profession, the group from the University of Texas at Austin truly delivered the most thoughtful, technically sound solution to the case challenge."
St. John Fisher College won second place in the competition, receiving $1,000 per student and an institutional award of $5,000. Michigan State University won third place, receiving $500 per student and $2,500 for their school.
All other competing teams in Deloitte FanTAXtic were awarded honorable mentions. Schools represented were the College of William and Mary, Fordham University, University of Missouri, University of South Florida, University of Southern California, and the University of Utah.
"Deloitte FanTAXtic continues to be an exciting approach to learning, as it takes into account the many ways tax is taught on campuses today," said Shaun Budnik, president, Deloitte Foundation. "By making the program interactive and giving students the opportunity to connect with Deloitte tax professionals, we challenge students to apply their growing knowledge base and leverage their skills addressing a real-world business tax scenario. We congratulate the University of Texas at Austin team for demonstrating a clear understanding of the issues in the case study simulation and working collaboratively to develop and present a viable solution."
Each team participating in the national competition won the Deloitte FanTAXtic contest in their respective U.S. regions. Prior to the final FanTAXtic competition held Jan. 18-20, 2013, more than 70 teams from 51 colleges and universities participated in regional qualifier events held in 16 cities throughout the U.S.
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About Deloitte Foundation
The Deloitte Foundation, founded in 1928, 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 sponsors an array of national programs relevant to a variety of professional services, benefitting middle/high school students, undergraduates, graduate students and faculty. For more information, please visit the Deloitte Foundation web page at www.deloitte.com/us/df.
As used in this document, "Deloitte" means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.