Tips for students this tax season

Experts share insights on how to file, education credits 

Yana McGuire | Staff Writer 

U.S. Tax Day, the deadline for filing your tax return, is April 15, 2025. For some college students who are “adulting” for the first time, preparing and filing returns can seem daunting. However, this process is easier than one may think if you are properly prepared. Let’s take a look at some essential facts that will help make this tax season less stressful.

Starting off right

One of the most common misconceptions students have is that their return check will be a large amount, according to Melissa Beck, tax professional at Liberty Tax & Loans in Jackson, MI.

“It starts with the W-4 Form,” Beck said. “When starting a job, they must fill that out correctly, because that is what drives what will be withheld for their federal, state and city withholdings.” 

Your employer can not tell you how to complete this document. It is vital that you review W-4 guides that explain the form line by line, which can be found online, and/or seek advice from parents, family or an expert.

Once you know more about your W-4 form and want to make changes, you can submit a new W-4 Form to your employer that will be put into effect 30 days from the submission date.

Who should file?

All working students are required to file tax returns if they make a certain amount of money, according to the IRS. The amount varies due to your filing status. The 2025 tax year filing threshold for single students aged 64 and under is $14,600. If the student is married, there are two ways to file and each determines the threshold. Married students who are filing jointly with their spouse must file if their combined gross income is $29,200. Filing separately, the threshold is $5 or more. 

Students aged 24 or younger and attending college more than half-time should check with their parents to determine whether they have claimed the student as dependent on their tax returns, according to Beck. If the parents have already claimed the student, that student can not file. 

How to prepare

The most important document you will need to file your tax returns is the wage and tax statement, also known as the W-2 Form, according to the IRS. This document contains the amount of income paid to you and how much your employer withheld for your taxes. You should have received this document from your employer. If not, contact your employer and request a copy as soon as possible.

Students who paid qualified educational expenses like tuition will need a 1098-T Form that contains the amounts you paid. This form will also be sent out by mail. 

Melissa Townsend, WCC’s manager of student accounting, stated via email that students may complete a 1098-T request form if they have not received or misplaced the original copy. 

If you have recently moved, make sure that your address and phone number are correct on all your forms. The most common corrections include adding a missing Social Security number or updating an invalid address, according to Townsend. 

Once a correction request has been made, it will take a minimum of three days for the correction to be made.

Form? Check! Now what?

It is to file. You can file returns yourself by using the IRS’s free online site, or you can have a professional do it.

When asked which filing style was better, Beck said, “If you’re able to do it on your own, and you are fairly confident that you know how, I don’t see a problem with it. But, we see a lot of people that just go in there and put numbers. They don’t understand what the credits mean, or what they should be getting credits back for, so they mess things up. Then they end up getting audited a couple of years later, and they owe money.”

Students may be eligible for the following credits, which may add funds to any return that they may receive. It is important to note that these credits cannot be used at the same time. 

American Opportunity Credit (AOC)

Students enrolled at least half-time at a postsecondary school may receive up to $1,000 added to their tax refund with this credit. AOC allows the cost of tuition and other qualified educational expenses, up to $2,500, to be credited. 40% of the credit is refundable. Beck believes this is the best credit for younger students, even if their parents claim them. This credit may only be used four times in a lifetime. 

Lifetime Learning Credit

This credit is perfect for eligible older students, according to Beck. It allows you to earn a credit of $2,000 for qualifying education expenses. There is no limit to how many classes you have to take and it can be claimed as many times as needed.

All of the information above will help you get a great start to your tax season. However, do your own research thoroughly before you file. No one wants a visit from the men in suits!

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