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How to Use CampusTaxes
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Step-by-step Instructions for filling out your tax return on CampusTaxes.com
You can print these instructions and follow along as you prepare your tax returns, or hold down your shift key and click the How to Use CampusTaxes option on the left side of your screen to open these instructions in a separate window – that way they’ll be easy to refer to when you’re working on your tax return.
NOTE: If you have any questions at any point along the way, just click the Contact Us option at the top of the screen. As soon as you send your question, an email message is sent to me, Gail Perry. I’ll answer your message as quickly as possible. If I’m not at my computer and don’t get back to you right away, you can save the information you’ve completed, and then return to www.campustaxes.com when you get your answer, and finish your tax return.
1. From the Home Page of CampusTaxes.com, click the blue IRS box on the right side of the screen. A separate window will appear.
2. If you’ve already started your tax return, enter your user name and password in the spaces provided under the heading, “Online 2006 Tax Return.” If you’re just getting started, click the “New Users Click Here” option.
3. As a new user, you must check the box saying you agree to the terms of service. You can click the View Agreement box if you want to read the terms of service agreement. In a nutshell, the agreement states that:
* We promise to prepare your federal and state income tax returns accurately, based on the information you provide,
* If you choose to file your tax returns electronically, we will ensure that your returns are indeed sent to the IRS and the proper state taxing authority,
After checking the terms of service box, scroll to the bottom of the page and click the Continue button.
4. Fill out the requested information on the New User Registration screen that appears. Your name will be entered on your tax return just the way you enter it here. The email address is so we can confirm to you that we have received your registration, and the rest of the information is for security so that only you can access the information you enter for your tax return. Click Continue when you have completed the registration screen.
5. On the next screen, you will see a summary of your registration information. You might want to print this screen so that you can make sure you remember your user name and password. Click Continue to proceed.
6. On the General Information screen you are going to enter information that goes on your tax return. There is a little Online Help box at the right that explains what information goes in each field. For most students, the Filing Status is Single. If some fields don’t apply to you, leave them blank. Only the starred fields are required. Click Save when you have finished filling out the General Information.
7. The Return Election screen is next. If you don’t need to file a state tax return, you can check the box to prepare only your federal return. Check any other boxes and fill out the fields on this screen that apply to you. NOTE: If you moved during 2006 (not counting moving from home to college), you might need to file two state tax returns, so check the box for multiple states. However, if you are a college student and are still claimed as a dependent on your parent’s tax return, and you go to school in a different state from where your parents live, you should use your parents’ address as your home address, and you probably won’t need to file a tax return in the state where you go to school. Click Save when you have finished the Return Election screen.
8. On the Return Disclosure and Signature screen, you must check the box at the top, agreeing that to the best of your knowledge the information you provide is correct. Checking this box also gives us permission, if you choose to file your returns electronically, to send the return to the taxing authorities.
9. If you want to file your tax returns electronically (and speed up your refund by about two weeks), you must enter a five-digit PIN number of your choice, and you must provide the Adjusted Gross Income amount from your 2005 tax return. If you didn’t file a tax return in 2005, enter zero for the amount of 2005 income. If you filed a tax return in 2005 but don’t have the income amount, check the box saying you don’t have last year’s income amount. In this case, you can either send your tax return by mail, or you can file electronically and we’ll provide you with a form that you sign and mail to the IRS when you file your return online. Click Save when you’ve finished this screen.
10. Now you’re ready to enter your income. You will see several tabs across the top of your screen.
* General Information – if you need to go back and change any of the information you’ve already entered in the steps above, you can do so on this screen. Click the Edit option next to any area where you need to make a change, then click Save when you’re done making changes.
* Dependents – if you are a parent or are responsible for the support of someone, you can click the Dependents tab to enter information about whomever you are claiming as a dependent. Click the Add New button across from “Dependents – Form 1040” to enter information about a dependent.
* Income – Click the Income tab, and then click the Add New button to the right of the type of form you need to enter. For example, if you receive a W-2 form from an employer, click Add New next to Wage and Tax Statement – Form W-2 and you will be taken to the screen where you enter information that appears on your W-2 form. You’ll be asked if the form is for “Taxpayer” or “Spouse.” If you are filing as a Single taxpayer, you are the Taxpayer. If you are filing as a married couple, the gentleman is always the Taxpayer and the lady is always the Spouse. Fill in the fields that appear on your W-2 or whatever income form you are entering. There will be fields that are left blank. Enter Save when you are finished with a form. Repeat this step for all income forms you received.
* Deductions – For most college students, the only deduction you might have will be moving expenses, and this only happens when you are leaving college to move to a location where you have a job. Moving around your college campus from one dorm or apartment to another doesn’t qualify as a deductible expense. Another deduction some college students have is a deduction for student loan interest, however, students who are claimed as dependents by their parents are not entitled to this deduction. If you are paying interest on student loans and think you might qualify for this deduction, click the Add New button next to Adjustments – Form 1040 on the Deductions tab, then scroll down to the Student Interest Paid section and enter the amount of interest you paid in 2006.
* Credits – All college students who are attending school at least half-time and who pay tuition are eligible for education credits. That said, keep in mind the fact that, in most cases, parents claim this credit instead of their college-age children. But sometimes, such as when the parents make too much money to qualify for the credit, it is more advantageous for the child to claim the credit. Note that the credit won’t do you any good if you expect to get all of your withheld taxes refunded to you anyway. In order for the child to claim the credit, the parent must be willing to not claim the child as a dependent on the parents’ tax return. Check with your parents to determine who will most benefit from the college credits. There is a Hope Scholarship Credit for students in their first two years of college, and then there is Lifetime Learning Credit available for all other students. Click Contact Us and ask for help if you’re not sure about the college credits.
* State – Click Add New next to the name of the state tax return you want to prepare. Depending on the state you have entered, there might be additional information you need to enter.
* View Results – Click the View Results tab at any time to see how your returns are progressing. You’ll see how much of a refund you are entitled to receive, or how much additional tax you owe based on the information you’ve entered so far. If you’ve finished entering all of your tax return information, click the Continue button. If you need to leave and return later, click the Log Out button at the top of the screen, and come back when you’re ready to finish your tax returns.
11. After viewing your return results and clicking Continue, you’re going to see a Balance Option Selection. Here you indicate how you want to receive your refund (either as a check in the mail or directly deposited into your bank account). If you choose direct deposit, you will be asked to provide your bank account number and the routing number for your bank (found on the bottom of your checks). You also have the right to apply for a Refund Anticipation Loan (RAL), which means you could receive your refund within three days instead of a couple of weeks. For most taxpayers, the fees associated with the RAL loans ($61 - $81, depending on how much your refund is) are prohibitively high, however you do have the option of borrowing against your refund with a RAL if you like. Click Continue after making your selections.
12. It’s time to pay for the processing of your tax return. For most students, this means $9.95 for the federal return and $4.95 for the state return, for a total of $14.90. Enter credit card information to process your payment, and then click Continue. At this point you will be able to print as many copies as you like of your tax returns and you can also initiate the electronic filing if you choose to use this process.
Remember: If you have any questions, just click Contact Us, get your answers, and then you can return to complete your tax returns. You don’t have to finish the tax returns all in one session.
I hope these instructions have been helpful. If you have any comments or suggestions for improvement on the web site or these instructions, please send them to me via the Contact Us option.
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