five tips on filing taxes for the beginner taxpayers

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5 Tips on Filing Taxes For the First Time Here are some steps a beginner taxpayer can take to successfully make it through their first filing season.

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Post on 17-Jul-2015

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5 Tips on Filing Taxes For the First Time

Here are some steps a beginner taxpayer can take to successfully make it through

their first filing season.

Create a System

Start a folder for each tax year to keep all the tax information and documentation you receive leading up to April 15.

Check with your Guardian

If you are a student looking to file your first tax return, make sure you talk with your parents first. Your parent may be planning to list you as a dependent or claim some of your college costs on their return.

Take Advantage of Free Tax Assistance

Many universities have self-help student groups, and often professors will give guidance to their students on the process. This is a great free service that provides students with information they can use the rest of their lives.

Use Free File

College students, like everyone, are eligible to use the IRS’ Free File program. Through Free File, you can use name brand tax filing software at no cost, as long as your annual household income is less than $60,000.

 Don't Procrastinate

Plan ahead and get your taxes done early. Waiting until the last minute to file can only lead to a stressful experience. Filing in a rush can also lead to mistakes that delay processing.

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