As surely as the seasons change, April 15 means taxes are due. While no one really enjoys the process of filling out the forms, or realizing how much of each paycheck goes to paying taxes, it’s all part of being a responsible member of society.
Encourage your students to make the process as painless as possible by keeping good records throughout the year. The records they collect during the year, plus certain forms that arrive after the start of the new year, will make filing much easier. When the tax forms come in the mail in January, they will be ready to start the process.
Even if your students aren’t required to file a tax return, you may want to let them know about the tax credits for which they may be eligible. These credits may supplement their income and help them achieve their financial goals.
This section covers:
- Tax Tips
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Child and Dependent Care Credit
- Retirement Savings Contributions Credit
For more information on tax issues, see the Research & Resources and Related Links sidebars.