What you need to know for Tax Day 2023
Apr 7, 2023
Every year in mid-spring, the U.S. federal and state governments require the vast majority of their citizens to file their income tax returns to determine whether or not they receive a refund or in fact owe the government money. As such, it is not a time of the year most people look forward to, myself included.
Tax Day is traditionally on April 15 of each year, unless it falls on a weekend, but this year, it falls on April 18. As such, there is a week and change until we reach the filing deadline for our taxes.
Filing your taxes can be extremely hard, incredibly stressful and confusing, especially if you don’t know what it is you’re doing (which there is definitely a reason for). For students, this can get even more complicated as, for many of us, this may be the first time we are filing independently. As I said, it may be quite stressful. But there are options.
So, in the eleven days between now and Tax Day, there are many ways you can get taxes out of the way. First, a couple of tips:
- If you made less than $12,950 in 2022, you are not required to file a tax return. However, you may want to, if only to get a refund and officially be on the books.
- There are several different kinds of tax forms, most of which get sent to you in the mail. Here’s a handy guide.
- If you receive financial aid from John Carroll, don’t forget your 1098-T which can be found by going to your Banner account, and going into your Student Account.
In terms of actually filing and getting your taxes done, there are ways that you can do it for free. If you feel confident enough to do it yourself and you only have a simple return, try one of these:
- Intuit TurboTax FREE
- H&R Block FREE
- FreeTaxUSA (personal recommendation for simple returns)
If you don’t have the confidence to do it yourself, or your return is a tad more complicated, try one of these:
- The United Way of Cleveland offers free tax preparation to low-income people like students. All you have to do is call 211 and set up an appointment. NOTE: this is for Ohio residents only. Also, note that you do not necessarily get to choose the location and time, so be prepared to schedule and travel.
- If you are able to, go into an actual tax prep location like H&R Block or Jackson Hewitt. They will do it for you and answer any questions you may have, especially if you have a more complicated return. However, take it from me, if that is the route you want to pursue, be prepared to spend a pretty penny because it won’t be cheap.
- If you think you won’t be able to figure out your taxes by the 18th, you can always file an extension which pushes your income tax due date back to Oct. 15.
Nobody likes tax season, but it’s a mainstay of public life so you might as well try to make it as easy as you can on yourself, especially as a college student. So don’t panic. Use the next week to make sure your finances are in order.