There is only one day left to file taxes before the April 15 deadline, and Christopher Laird (sophomore-psychology) has not even started working on his return.
"This is the first year my parents haven't done my taxes for me," he said, "so I kind of put it in the back of my mind and now I'm stressed and I have to do them quickly or file for an extension."
Laird is not alone.
The Internal Revenue Service expects more than 20 million people will file their tax returns between April 10 and 15, and another 10 million will request extensions, according to its Web site, irs.gov.
Filing an extension allows an additional six months to file a return, which would then be due by Oct. 15. However, any taxes that are owed to the government must still be paid by tomorrow.
Mike Gordon, owner of a Jackson Hewitt tax service franchise temporarily located in Nittany Mall, said he believes taxpayers procrastinate when filing returns because they think they will owe the government money. He also said he has not encountered many students using Jackson Hewitt for their tax needs.
"We see some students, but not many," he said. "I think they do their taxes online or their parents file for them because the child is still being claimed as a dependent and the parent wants to make sure their taxes are done correctly."
James Miles, a finance professor, said he uses computer software to do his taxes and recommends students do the same.
"I would imagine that students, even if they don't have the money for services, could do their taxes on their own," he said. "Otherwise, as it gets more complicated, the computer programs work well."
Although the State College Post Office is expecting to be busy tomorrow, it will not be extending its hours of business like it has done in years past, Postmaster Betty Singleton said.
However, because long lines are likely, the post office will have additional staff.
Like Laird, Maryrose Capella (junior-industrial engineering) does not know how to prepare her taxes; however she is not required to file this year.
"I don't know anything about doing my taxes, which is a shame because I'm going to have to do them on my own soon," she said. "I've never really worked enough to have to file anyway, and when I have, my parents have done it for me."
Miles suggests that students begin a tax-deferred savings plan, which is usually available through places of employment, as soon as possible.
