April 15 is the deadline to file taxes. SPM spoke with manager Joanne Whitmer and tax preparer and supervisor Lindsay Hansen of Liberty Tax Service, a tax preparation business near campus, for some tips on how to file taxes.
Step 1: Gather tax-related information.
Students will need to gather anything related to income, such as W-2 forms. Employers are required to send out W-2s by Jan. 31. So if students have yet to receive them, Hansen says they should contact their employer. If they are unable to do so or their employer is not helpful, students can contact the IRS. Additionally, students need to collect information on any other items that may be tax deductible such as tuition and school-related fees. By logging into myASU students can find the 1098-T which reports tuition-related information for tax purposes. (It is under the section “My Accounts” once students are logged into myASU.)
Step 2: Decide to file by mail or online.
For those filing online, visit http://www.irs.gov.
Those filing by mail will need to pick up tax forms at either a post office or public library. Most students will be using the 1040 EZ for their federal taxes. Whitmer says students will need to remember to pick up the instructions booklet along with the form. The instructions booklet will help guide students through the process of figuring out what information needs to go where on the form.
Step 3: Follow directions and submit.
Hansen says each person’s taxes will differ as far as what is deductible and taxed, but students should make sure to follow directions, and include everything when filing.
Follow the above directions for filing federal taxes and don’t forget to also file state taxes. One last thing to note: if students file for an extension, they still need to turn in an estimate of their taxes by April 15.
If ASU students need additional help preparing their taxes, they can receive a 50 percent discount on a tax-preparation service if they come in before the end March to file their taxes with Liberty Tax Service.
So, while the government may be demanding a chunk of students’ funds (because the government has done so well with money management lately) at least they won’t have to pony up as much just to figure out how much they owe Uncle Sam this year.
Liberty Tax Services
(480) 379-1040
3135 S Mill Ave Ste B6
Tempe, AZ. 85282
Libertytax.com
Office hours:
Monday-Friday 9a.m. to 10 p.m.
Saturdays 10 a.m. to 6 p.m.
Some Sundays 12 p.m. to 5 p.m.
Reach the reporter at nicole.ethier@asu.edu.