IRS Website below - Please find a computer and log on to this site. Use it as a reference if you have questions during this process. Filling out Tax Documents and Filing Your Taxes

Filling out a W-4 form Dependants – people who you are the sole financial provider for. If your parents claim you on their taxes, you would have 0 dependants More money will be taken from your paychecks, and you will likely receive a tax return check If you claim yourself, you have 1 dependant Slightly less money will be taken from your paycheck If you have children, claim yourself and each one of them on this form. Even less money will be taken from your paycheck

Filling Out a 1040 EZ

What you will need A blank 1040 EZ Form I recommend that you pick up or print an extra copy in case you make a mistake. Social Security Number Pen (you can not fill these documents out with a pencil) Calculator All W-2 forms that you have from every job that you have held in the last fiscal year.

Step 1 - Label Fill in the top part of the form If you are filing alone, fill in ONLY your own information on this form Make sure to include your Social Security number in this area

Step 2 – Filing Status Mark the box that applies to your situation Most of you will enter box 1 for single.

Step 3 - Exemptions What are exemptions? Other people or items that you can receive a tax break on because they are expenses you have that would require you to need more income, thus paying less in taxes. Children, Spouse If you are filing forms other than a 1040 EZ, you might have a mortgage or college expenses you can be exempt from. In this situation you may need to itemize your taxes.

Step 3 Continued Check box 6a if you claim yourself as an exemption. You file on your own and your parents do NOT claim you as an exemption It would be tax fraud for you to claim yourself and your parents claim you as well If your parents claim you do NOT check a box Answer the questions on the far right section of this part. Add up the lines and write the number in the square box.

Step 4 - Income 7 - enter information from W-2 form, box 1 8a – 20a will likely be 0, read over these and enter a 0 if they do not apply to you. If they do, enter the amount that is correct for your situation. 21 enter other income if you have it, or 0 if you do not. 22 – add the total amounts from 7 – 21 and write the total in. This is your total income for the year.

Step 5 – Adjusted Gross Income Most of these will not apply to you if you are filing alone and just out of high school. As you develop more assets, more lines will apply. Read through the lines and enter 0 if it does NOT apply to you, or the amount needed if it does. As you are reading pay close attention to what other expenses might be included on your taxes for future reference. (33 and 34 deal with students loans)

Step 6 – Tax and Credits 38 – carry over total from line 37 on previous page 39 – Check any boxes that apply, they should not apply to you. 40 – see box on left side to determine if you are itemized or standard…Standard? Put 5,700 in box 40a 41 – subtract line 40a – multiply 3,650 by the number on line 6d

Step 6 Continued 43 – 54 read each line and fill out the information that pertains to you 55 – Subtract line 54 from line 46, if 54 is more than 46 enter 0, or enter the amount

Step 7 – Other taxes Review lines 56 – 59 and enter any information that may pertain to this section It is unlikely that you, as students, will have anything to fill in here.

Step 8 - Payments You will need your w-2 and 1099 forms to fill this section out 61 – income tax withheld, from w-2 and 1099 forms 62 – 70 read to see if any of these apply to you 65 will apply if you have children 66 will apply if you have higher education credit 67 applies when you purchase a home

Step 9 – Refund or Amount you Owe 72 – if line 71 is more than line 60, subtract 60 from 71 and this is you REFUND – money that you overpaid in taxes and will receive back. 73 – 74 – Read and fill in if these apply to you. 75 – 76 – if line 71 is larger than line 60, find the difference and this is the amount that you will need to pay back to the government.

Step 10 – The End Double check to make sure you didn’t make any mistakes Sign and have your preparer sign (if they did the taxes for you) Attach all documents (make sure to keep copies) and send in to the IRS – Internal Revenue Service