Ball State University students rushing to complete their taxes before April 17 still have time to seek assistance and complete their tax forms quickly and accurately.
"My suggestion is to start now,"
Internal Revenue Service spokeswoman Pat Brummer said. "Get the paper work together and sit down and rough it out. Wait a few days, then go back and look at it. If you haven't started it, why wait until the last minute?"
Some of the issues facing taxpayers in the last weeks before deadline include how to file - online, with software or by hand - where to find help and what some common mistakes are.
FILING ELECTRONICALLY THROUGH IRS
The easiest way for students to file their taxes is doing it electronically through irs.gov, Brummer said.
"Just about every college student has access to the Internet," she said. "That is the easiest way. Don't wait until the last minute. If you're doing a paper return, that is when you're going to make mistakes, rushing at the last minute."
The IRS Web site offers free filing through about 20 companies, Brummer said.
Anybody who makes less than $52,000 a year is eligible to receive free help from any of the companies on the Web site, she said. People who go through a company's own Web site will be charged, she said.
Filing electronically is fast, free and almost error-free, Brummer said.
"Error rates are real important things so far as the IRS is concerned," she said. "It's a secure system. It's been around since 1986 and has never been breached."
The error rate for electronic filing is 1 percent, while the error rate for manual filing is 20 percent, she said.
COMMON MISTAKES
The most common mistake college students make is declaring themselves as independents when their parents still mark them as dependents for exemptions, Brummer said.
"It is always important [for students] to discuss with their parents on what they should do on tax returns as far as dependency is concerned," she said.
Other common mistakes are mathematical errors and incorrect Social Security numbers, Brummer said. Electronic filing programs catch most of those errors and correct them.
The IRS won't accept a tax form unless it is perfect, and if there are mistakes, it takes longer for the return, she said.
Along with receiving free help, which decreases mistakes, it only takes about half the time to receive a refund when filing electronically compared to filing through the mail, Brummer said.
People usually received their refunds in less than two weeks, and people who file for a direct deposit get it seven sooner, she said.
FILING WITH SOFTWARE
Ball State University graduate student Justin Hayes said he filed his taxes electronically using Turbo Tax, a tax-assistance program he bought at Best Buy.
It took about 45 minutes to complete his taxes using the software, and the return took about two weeks, he said.
The program saves information from previous years and automatically enters it in the future, he said.
"You don't have to re-enter mundane things like your address," he said.
The program is sold at different levels. The most basic version costs about $20, and the most advanced costs about $100.
"It's easy for anybody," Hayes said. "It asks specific questions that help gear in on specific deductions. It should be a breeze for people."
FREE ASSISTANCE FROM VITA
Students needing face-to-face help from an accountant can visit the Volunteer Income Tax Assistance program at the Maring-Hunt branch of the Muncie Public Library, volunteer Paul Parkison said in a February interview.
Volunteers are in the library's meeting room from 9 a.m. to 4 p.m. every Wednesday and Friday until April 17.
VITA serves low- to moderate-income tax payers of all ages, including college students. The program files state and federal income taxes.
Students do not need to make appointments, and the average wait is about 30 minutes.
For more information:IRS toll-free help hot-line: 1-800-829-1040
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