Q:What is the best advice you can offer students about getting taxes done efficiently?

A: Well, one is that you can file a form to get an automatic extension and your tax form won't be due for months. It's form 4868 and its called "Application for Automatic Extension of Time to File U.S. Income Tax Return" and it's available at www.irs.gov. You are allowed to file later but if you owe the IRS any money you must pay by April 15 or else you are subject to interest and penalties.

Q:Should students have professionals do their taxes, or is it easier if we do them ourselves?

A:I think that a simple tax situation can be handled on the 1040EZ form.

Q:Does being a full-time student exempt us from having to pay the government taxes that we owe?

A: No. That's actually another point to think about, whether your parents may have made arrangements that would alter your tax status for the year that you might not be aware of. You might want to check with them.

Q:Are academic scholarships taxable, and if so how will that affect students who have scholarships?

A:It's all taxable. The tax situations for foreign student can be more complicated and the university has arranged tax clinic, which provides advice to foreign students about filing out their U.S. non-resident tax returns, the 1040NR. Also, people might not only owe federal taxes but state and local income taxes.

Q:How much should students typically expect to pay if they get their taxes professionally done?

A:I really don't know about that. If your income tax is fairly simple and you can file it easy, then you can do it for yourself.

You just need your W-2 form from your employer. Even if you owe no taxes you still need to file the form.

Q:Will the current economic situation affect students' taxes in any way?

A:Tax rates are established in advance and are unlikely to change at this point. People already know the tax rates. The income that you are filing that tax return for is the income you received in the 2007 calendar year.

Q: What is the best way to approach taxes this year?

A: Sit down with your W-2s and bank statements and go at it. Make sure to ask your mom and dad if they have any income you might not know about.

Q: When do you think that students should have started doing their taxes?

A: Usually you can start as soon as you get the information slips from your employer. Those usually come out in February and you can arrange to have your refund direct deposited to account, which may be more convenient and reliable than the IRS sending you a check.

Q: The government is allowing students to do their taxes online now for free. Should students take advantage of this?

A: Yes, I think it's a great idea. It eliminates a lot of arithmetic errors in the tax return.

Q: Do you think e-filing is as safe as paper filing?

A: I don't know any reason why it wouldn't be as safe.

Q: What should students do if they realize after they have filed, that they made a mistake?

A: They need to correct it by filing an amended return.

Q: About how long does it take for tax refunds to come through?

A: I would say less than three months.

Q: What happens if someone chooses not to do his or her taxes?

A: In the end, the government will find you and make you regret it. I think it is better for people to file the forms and move on.

Q: How often do you think people wait until the last minute to file?

A: You used to be able to tell by the long lines at the post office but now you can do it all online so I guess the issue is whether the tax preparer's computers will be more reliable than the angel computers when they have a heavy load.

Q: Should people keep their information even after they have filed?

A: I think there is a requirement that people have to retain their records, which people might not be aware of.

-- Compiled by Samantha Van Vynck