As the tax deadline approaches (MONDAY, APRIL 18, 2011) and you feel the beads of sweat beginning to form just take a breath and try to relax. Although we, both SFS and Savvy Student are prohibited from providing tax advice, we can still give you tips on where to go for help. First and foremost your online best friend should be IRS.gov. Make sure to submit your materials on time, otherwise, if you owe money you risk facing fees.
Second and arguably as important- Make Copies! A good rule of thumb is to keep copies of your personal return on file for three to seven years. Copies are useful when you need to reference your returns for such things as the financial aid application process. Also, The IRS has three years from the date you file to audit your return, so it will be nice to have a record of your return if any bumps arise.
Our third tip is to make sure your return is complete - check the IRS website at http://www.irs.gov/index.html to see what schedules and forms may be helpful or required for your return. These may include various versions of the 1040, a business or self-employment schedule, attachments, and W-2's. You can also answer many of your other questions using the sources on this page, and the student specific section can be found here: http://www.irs.gov/individuals/students/index.html.
Finally, you should also consider taking a trip to Bentley University in Waltham. Bentley students are offering free tax help to Waltham residents, and Brandeis students count! You can find more information in our Monday March 7, 2011 post and here.
Of course, if you need them, there are commercial tax-help products and services - but try the above first!
As always, let us know if you have any other information, tips, questions, or leads on Savvy services!
Sincerely,
Savvy-Student
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