Apr 052010
 
Authors: Jordyn Dahl

The deadline to file federal and state taxes is quickly approaching and many are still confused as to what filing entails –– not to mention the confusing jargon.

To make this harrowing process a bit easier, the Collegian has put together a list of forms students need and how to get the most revenue back when you file a tax return.

Things you should know before filing:
The deadline to file personal tax returns is April 15.

Haiti contribution deductions are classified as any contribution between Jan. 11 and March 1, 2010 and can be deducted from your 2009 tax return.

Taxpayers must fill out Schedule A on form 1040 and turn in proof of contribution.

A dependent is defined as someone you care for. Students are likely claimed as dependents on parents’ tax returns.

Students can claim the American Opportunity Credit, AOC, if their estimated gross annual income is $80,000 or less. AOC provides a partial reimbursement for tuition and certain fees paid into higher education in 2009 and 2010.

Resources available:

Tax forms and The 2009 Colorado Income Tax Guide are available at the Morgan Library.

http://www.TaxColorado.com offers an Income Tax Guide, online forms and customer support.

Tax forms and other information available Monday through Friday from 8 a.m. to 4:30 p.m. in the Colorado State Department of Revenue located at 1121 W. Prospect Rd., Building D.

File your taxes online for free with step-by-step instructions through the E-file option at http://www.irs.gov.

H & R Block offers these tax services:

Free online software to do basic taxes
Offices with tax consultants to fill out and file your return
Rates: $39 for a 1040EZ federal return and $29 for each state return.

Staff writer Jordyn Dahl can be reached at news@collegian.com.

 Posted by at 5:26 pm

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