The Student News Website of Francis Howell North High School.

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The Student News Website of Francis Howell North High School.

FHNtoday.com

The Student News Website of Francis Howell North High School.

FHNtoday.com

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    Filing Taxes Without Frustration

    “Money, Money, Money!” That is one of the songs teenagers all across America will be singing after Taxesgetting their tax refund. Although taxes can seem difficult and confusing, the (literal) payoff is the money that can be refunded back. Here are some tips to help get the most money back possible.

    “Why would you want to give away your money and not collect it?” Sederburg & Associates accountant Daniel Byrd said. “You earned it.”

    For starters, high school students should receive a W-2 form, which is a workplace issued report of income to the government. Information put on the W-2 includes a person’s social security number, a report of the amount of money the employee made and a report of the money taken out by taxes. The W-2 can be filled out with the help of parents, programs like TurboTax, or professional accountants like Byrd. While the process for adults can get complicated, it’s much simpler for most students who file.

    “Follow directions and double check your math,” personal finance teacher Mike Freedline said. “Make sure all the information is correct.”

    While filling out his taxes, senior Jack Boden says he fills out all the easy things first, like his social security number, and then uses his earnings statement from his work to fill out the rest. According to Byrd, the best thing to remember when filling out the W-2 form is to double check the work and ask for help if needed.

    “The worst thing in the world is a letter from the IRS,” Byrd said. “It’s not a race. Everybody wants their money back right away, but when you rush to prepare or rush yourself, it’s much easier to make mistakes. Just like writing a paper; proofread it. Check it twice.”

    The deadline for taxes is April 15. After that teenagers can sit back, relax, and dream of all the money, money, money they’re going to receive.

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