The Ranger recently published an article titled “The Tax Man Cometh,” by Tim Hernandez, which was very well written, but lacked certain information.
For example, by the end of the article I found myself asking “Why do I need to file the 1098-T? Is this something all students need or only those that benefited from finanicial aid? What benefits or drawbacks does this form have?”
This form will help when it comes to the deductions portion of student taxes. This will either give a bigger tax return or a reduction on a tax payment.
This is an important fact that most students would benefit from. It will encourage more students to seek out this form, since it will most likely raise their returns.
Something else that should have been included in the article is the different online websites that offer free e-filing.
On the IRS website, there is a page that provides links to all the certified tax services providers that offer free use of their programs to file federal tax returns no matter your income level.
There are two different links depending on whether you make more or less than $62,000 per year. There is even an instructional video to help you along your tax journey. More information on this can be found at www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free.
Most of the service providers offer a step-by-step, easy-to-use approach. For example, In Turbo Tax (one of the service providers offered), you will be asked “Did you get married this year?” your response will then generate more questions that are aimed to give you the biggest return you can legally get.
Delgadina Castro Cervantes