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Tax Information

Page history last edited by Eric G 1 year, 10 months ago Saved with comment

Tax Prep Programs

 

The IRS has a program to offer free brand-name tax software to people that make less than $60,000/yr.  Check out the options here: http://apps.irs.gov/app/freeFile/jsp/wizard.jsp

 

If you made less than $31,000, you might want to check out https://turbotax.intuit.com/taxfreedom/. This is different from the "free TurboTax" that you might see in ads ("federal free edition"). This is more powerful than the free version they advertise, and it includes unlimited free state tax returns (I had 3 states, so this was pretty useful). 

 

(Note: Turbotax Federal Free Edition: restrictions on when you can use it; if you use it early enough lets you file federal for free; can pay $20-30ish to file the state part also.)

 

Another alternative is Credit Karma, which started offering free tax prep regardless of income or how complicated your taxes are (at least as of 2017).

 

International Students:

You should get an email about logging in to "GLACIER TAX PREP" software (GTP), similiar to Turbo-Tax, to help you automatically do your FEDERAL taxes. This is a free service. For state tax, you will probably have to take help from some online tax software.  

 

Note: International Student Services generally offer help with filing your income taxes, but they're unable to help you too close to the tax deadline on April 15; seek help early. 

 

Estimated Taxes

UCSC doesn't do Federal Income Tax Withholding on some fellowships, like the NSF.  In order to avoid tax penalties, you'll probably need to pay estimated taxes.

 

Here's the overview page: https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes

 

Here's the form that includes the simple worksheet to figure out how much to pay (and when): https://www.irs.gov/pub/irs-pdf/f1040es.pdf

 

Here's the long version of the instructions, if you need more details: https://www.irs.gov/pub/irs-pdf/p505.pdf

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