What’s the deal with April 15th? (By: TE)

April 15th, the day individuals who make an income dread: tax day. In order to not be too stressed on this day, educate yourself on what you are required to do as a taxpayer. Luckily for you, I am going to tell you about the tax process to get you started.

When you first begin, collect all the information that you may need during the process. You will need your W-4 form, which is used by your employer to calculate how much federal and state income tax to withhold from your paycheck, your W-2 form, which is sent to you by your employer and provides you with most of the information you need to file your tax return, and other documents.

Next, you must chose a avenue through which you will file your taxes. You can do it online, or you could download software, which is available on irs.gov. You must then choose the correct form, and, as a young adult, you will most likely need a 1040 EZ. After filling out the form, pay your taxes! This a basic outline of the process, but when it comes to your money, a little knowledge can go a long way.

Video: How to Do Your Taxes EXPLAINED

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