North Texas Daily

A guide to last minute tax filing for students

A guide to last minute tax filing for students

A guide to last minute tax filing for students
April 14
00:15 2015

Matthew Payne / Staff Writer

The 2015 tax season ends tomorrow, and students who have yet to file are coming down to the wire.

There are several reasons and benefits for students to file early. Every year, early filing can further guarantee a larger tax return and priority when applying for FAFSA. This process requires students applying to submit their tax information from the preceding year to appropriate the most effective personal aid package.

“There are many students who will be selected for tax verification by the IRS,” said Eagle Student Services financial aid advisor Carly Mullins. “And if that’s the case, then you need to make sure if you need to file, that you, along with your parents, make sure all of your tax information is in order, and have it promptly filled into your FAFSA.”

Fortunately, there are a number of resources UNT administration recommends and provides to students who want to stay on good terms with the IRS and maximize their overall federal refund. Several free counseling programs are available for students to take advantage of, such as H&R Block’s free filing software on hrblock.com, the Volunteer Income Tax Assistance Program and the Internet-favorite Turbo Tax.

The VITA is sponsored by community organization United Way of Denton County and offers free counseling to families and students who make less than $50,000 annually, at several different locations and times.

“In 2015, we’ve already had several tax preparations affiliated with the VITA program at public vicinities across Denton County,” United Way representative John Montoya said. “We are available via phone call or email for further information regarding qualification and scheduling meetings.”

Locations and appointment times are available via unitedwaydenton.org/vita.

For students worried about missing the tax-filing deadline this year on April 15th, there is a solution. The absolute deadline for 2014 tax-filing is actually April 15, 2018, three years after the initial deadline.

However, if the season’s deadline is missed, the filer loses the convenience of filing through a website or any electronic medium, as the IRS requires a mailed paper copy sent straight to their offices. If one anticipates owing money to the IRS, they must file their taxes by the original April 15 deadline to avoid unwanted fines and additional charges.

Beyond the tax deadline, there is still the option to call the United Way of Denton County to schedule a free consultation for those who qualify. Appointments are available by calling their office and speaking to one of their IRS-trained representatives.

For those interested in maximizing the utility of their refund, the Student Money Management Center on campus has several one-on-one resources to allot money.

“We have a wide variety of services, and can help with many different financial situations,” assistant director of outreach Rachel Grimes said. “While we won’t be able to specifically help you in officially filing your taxes, if you’re interested in counseling on practical, frugal spending in the midst of trying to balance expenditures with your personal college lifestyle, that’s definitely what we specialize in.”

Located in Chestnut Hall and open Monday through Friday from 9 a.m. to 5 p.m., the center offers budget and tuition planning services, professional analysis of job offers and financial packages in addition to other specific consultation.

For more information on tax season deadlines, visit http://www.irs.gov/Filing.

Featured Image: If you rather skip going through sites like TurboTax or H&R Block, the IRS has the tax form on their website. Simply visit IRS.gov and search 1040ez form. Screenshot courtesy of IRS website.

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