In addition to the NFL play-offs in January and the college basketball play-offs in March (aka March Madness), the January to April period is also known as tax season. Tax season is the period when individuals are required to file their taxes with the government to determine whether a refund should be issued by the government (to an individual) or if an individual tax payer needs to pay more tax to the government.
In this post, I will explore a few of the many cost effective options that are available for students. A very good example is the Volunteer Income Tax Assistance (VITA) program. VITA is a national operation, and most business schools operate a work-site every year, which offers free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns. Here at Fisher we do have a VITA work-site administered by the Department of Accounting and MIS. Furthermore, VITA is not only free for students to get their taxes done, it is also a volunteer opportunity for students who want to gain experience in tax preparation.
For international students, another free resource is the Glacier Nonresident Tax Compliance System. This resource allows students to prepare their federal income tax return, Form 1040 NR-EZ, and Form 8843 for free. This is an excellent free resource because the only thing one needs to do is to print and mail the forms to the IRS.
Finally, for both domestic and international students, the state of Ohio provides I-File, which allows individuals to file their Ohio state tax returns online in a quick and relatively easy process. In my experience so far, this is unique to Ohio so definitely make use of this platform because filing state tax returns can get a little costly.