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The Standard
Tuesday, Feb. 12, 2013
Hassle-free tax services for students other credits besides the earned income credit. To figure out what form might work best for you, go to http://www.irs.gov/taxtopics/tc352.html. TurboTax also has a live chat option to help walk you through filing your taxes step by step.
Several options available for filing taxes with ease By Amber Duran The Standard
There are a lot of pleasant things about springtime — the fresh rains, the newly budding flowers and trees, but there is a part of spring that makes some people want to pull their hair out: tax season. It rolls around the same time every year, yet somehow it seems to creep up on us like a bad habit. The only question is, are you ready to file your 2012 taxes? If you check out the Internal Revenue Service’s website, which is the government agency responsible for tax collection and enforcement of tax law, you might feel a little overwhelmed, but there is a light at the end of that dark tax tunnel. In fact, that light might be in the form of a handsome tax refund. Now, if you are one of
those brave souls who is going to take on taxes on your own, good for you. But for those who may need a helping hand with this, there are resources available to you that you may not be aware of.
H&R Block
Tax clinics
First off, as students, there are tax clinics held on the MSU campus that can assist in this way. These clinics are held Fridays and Saturdays in Glass Hall between 10 a.m. and 2 p.m., according to the Missouri State Volunteer Income Tax Assistance calendar. According to an MSU news brief, “Students from the School of Accountancy at Missouri State University will assist individuals with free tax preparation, e-filing and questions about other tax issues as part of the VITA and Low Income Tax Clinic (LITC) programs
Sarah Hiatt/THE STANDARD
BoJun Zhou helps Bryan Hunter with his taxes as part of the School of Accountancy’s tax clinic. through April 14.” If that does not seem like your cup of tea, there are other outlets, such as TurboTax or meeting with an H&R Block tax preparer.
TurboTax
TurboTax takes taxes online and makes them a fillin-the-blank affair, although it may entail a fee for service. TurboTax can be free if
you use the basic 1040EZ form, or it can cost $20 for a basic 1040A form. From there, prices can increase if you add things such as stocks or dividends to your claim. The basic difference between the 1040EZ and the 1040A is the amount of information that you are reporting on your taxes. For instance, you cannot use the 1040EZ if you have any
Another option available to you is visiting an H&R Block tax professional. H&R Block also has the option to file online using its software, but it offers faceto-face customer service as well. This allows you to get answers to all of your questions, and that can make it easier for you to do your taxes in the future. If you come in before Feb. 15, H&R Block will prepare your 1040EZ for free. As students, do not forget about the education credits that may be available to you. These credits might just be the light at the end of the tunnel you are looking for.
Education Credits
According to the IRS website, there are two types of education credits you should look at: the American opportunity credit — part of which may be refundable — and the lifetime learning credit, which is nonrefundable. “A refundable credit can give you a refund for any part of the credit that is more than your total tax,” the website said. “A nonrefundable credit can reduce your tax, but any excess is not refunded to you.” Both of these credits have different rules that can affect your eligibility, so it is important to look into this if you are doing your own taxes — or have your tax preparer look into it for you. Tax season is not fun, but it doesn’t mean it can’t be done well, and done without having to pull your hair out. Give your hair follicles a break this season and breathe easy knowing there is tax help available for you through various outlets.