Even though Tax Day is three months away, on April 18, 2023, tax season starts this month!
By January 31, all employers should be providing employees with their W2s for their taxes. When you receive your W2 and other tax documents, please ensure you save them for your records, and start preparing your taxes refund application.
Taxes and the college application process
Completing your taxes is essential to helping your child enroll in college.
Missing parent tax information is a significant barrier for students when applying for financial aid and directly impacts their college decision. YES Prep provides support to all students and their families during their senior year to complete financial aid paperwork. However, completing your taxes is one of the first steps you can take to support your child’s college applications.
Tax information is a key piece of the college financial aid process, which starts with either the FAFSA or TASFA application. Current juniors (Class of 2024) will be using the 2022 taxes in October 2023 for FAFSA/TASFA – having the 2022 tax return completed will help ensure students access the aid money they qualify for.
Even if your son or daughter is not currently a junior, having your taxes in order can assist in making the process of your child applying to college and applying for scholarships and financial aid easier.
IRS VITA - Do you need help with your Taxes? The IRS Volunteer Income Tax Assistance (VITA) Program maintains a directory of community resources that offer tax clinics in our area. Click here and type in your zip code to find resources near you.
BakerRipley Tax Centers - One option to support families here in Houston are the BakerRipley Tax Centers. BakerRipley is a non-profit organization with various walk-in clinics in the Houston area that provide FREE tax preparation and several sites that also assist with ITIN applications and renewals by appointment. To learn more about the Baker Ripley Tax Centers, click here. Most BakerRipley Tax Centers will begin opening in mid to late January and remain open through April 15.
Not sure if you’re required to file a tax return? The IRS has this great tool, click here, to check if you are required to file and what filing status to use.
Want to learn more about FAFSA? Click here to read more.