It’s that not-so-happy season again this year, when our parents scramble together to make sure that records are in order, receipts are taken care of and filing taxes is not as burdensome as it was last year.
For student employees maneuvering the tax filing system, especially for those who have only just begun to experience the lifestyle of the working world, the process can be downright headache-inducing.
It is time, then, that UCLA considers, among the many resources it offers, educating students on one critical aspect of daily life: personal finance.
UCLA already provides a series of educational services regarding alcohol consumption, financial aid and loans, among others.
Yet the university does little to reach out and ensure that students are knowledgeable about their wages.
This board won’t argue that the income earned by many student employees is anything comparable to what full-time employees earn, possibly the reason why such outreach efforts are not made.
As a result, many students are still claimed as dependent on their parent’s income tax forms.
Those who volunteer to help students file their taxes say that it’s not surprising to see students accidentally file tax returns within their parent’s income bracket. These students could be taxed up to 35 percent for their minor wages, which would normally incur a much lower rate.
The end result comes from an overall lack of knowledge and understanding. Students who are uncertain as to where exactly income fits in are at a loss.
But where does the responsibility rest? Students are accustomed to paying for tuition by accessing URSA. Paying for the dorms is also easily done online or through the Office of Residential Life.
This board is glad to see that, at the very least, a few student organizations have sprung up dedicated to helping other students make their way through the tax filing season.
Campus student groups such as UCLA Volunteer Income Tax Assistance have made headway in regards to educating the student population about their W-2 forms.
Many student employees will file their tax forms for the first time this year, and they may wonder if they qualify for exempt status, or whether they should expect any federal refunds.
As it currently stands, W-2 forms are (or should be) in the hands of university employees, allowing students enough time to file their own tax forms by the April deadline.
But while the university rightly makes versions of student employees’ W-2 forms available online, this board cannot help but wonder why more is not done to educate students on how to properly fill out their paperwork.