Being one of the most liked free pay stub generator online, we take the opportunity to put up a list of tips for college students. Most college students are beginners and may not have the proper knowledge of how to file returns.
This article is exclusively for beginners to make things easier. Meanwhile, you may check out how your last real check stub help filing taxes?
- Start preparing early
Knowing the deadline is the very first thing one can do to file taxes so that you can start preparing in advance. Filing taxes is very simple and is not complicated at all. Following a simple process of gathering the right documents, reviewing the tax filing status and seeking advice from the tax professionals will get you there.
- Utilize a Free Way to File Taxes
Using pay stub generator free, you can begin with accurate pay stubs which will then be utilized for W-2s or 1099 MISCs.
Just like everyone, college students are eligible for using Free File Program by IRS at no cost when your annual household income is less than $66000. In-person help can also be received for free via the Volunteer Income Tax Assistance program if income is less than $54000 or less.
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- Beware of Scams
Identity theft is not a big deal as we live in a digital world today. Everything is online and forging the details is a matter of minutes. This especially comes true as the tax season arrives so the tax scammers get activated. Email and phone are the most common mediums used. So stay alert and if in doubt, contact the IRS immediately.
- Your Rush may cost your Refund
If you are using a free check stub maker, you will have your earnings statement beforehand.So, you may proceed to file taxes online if you are looking for thefastest turnaround time. IRS states that it generally issues most refunds within 21 days but many filers receive their federal refunds in 10 Days to 2 weeks.
- Dependents cannot claim Tax Exemptions
If your current status is dependent on parent’s returns then it is important to understand the basics of filing returns. Not knowing these details is one of the biggest mistakes any student can make.
As per IRS (Internal Revenue Service), the dependent must either be a ‘qualifying child’ or a ‘qualifying relative’ who meets the requirements of age, income or full-time student status. No exemptions can be claimed by the students nor can their parents claim for them. Since most of the college students fall in this category, they cannot claim their own exemptions.
So, what are you waiting for? Our Free Paystub Maker is for employees, contractors, and freelancers so if you are a college student, you can take its benefit too.