Filing taxes for students can be tricky. Are adult students considered independent or can they still be claimed by their parents? Do students have to file if they earned less than $6,300? What if a student doesn’t have a job but has unearned income from a trust fund or other sources?

Tax laws can get complicated pretty quick and a tax audit is the last thing you want.

When in doubt, seek assistance from a certified tax specialist. In the meantime, here are six quick-and-dirty tax filing tips for students.

1. Claim zero allowances on your W-4s. When you are hired at a new job, the employer has you fill out a W-4 form. This form requires you to fill in personal details, including your social security number and contact information. It also asks you to decide on a number for “withholding allowances.” Many students make the mistake of claiming themselves, and entering a “1” here. However, that reduces the dollar amount withheld from each paycheck. In some cases, this may result in a dependent student (more on “dependent vs. independent” in #4) owing taxes. Instead, always claim “0”. This ensures your employer withholds the maximum amount, and it will minimize any taxes you owe. In many cases, this will result in a student receiving a tax refund – always a nice spring bonus!
2. Be prepared. Taxes are due April 15th each year. Start preparing early so you don’t miss the deadline. Have all your documents in order. For students, these typically include W-2s (paycheck withholdings), Form 1098-T (tuition statement), Form 8863 (education credits) and Form 1098-E (interest paid on student loans).
3. Always file if taxes were withheld from your earnings. In most cases, dependent students don’t earn enough via part-time or full-time summer jobs to have to pay as much as is withheld by their employer, especially if they claim 0 on their W-4. Thus, even if your earned income was less than the IRS earned income minimum for dependents ($6300, if you aren’t legally blind, $7850 if you are legally blind), you still want to file taxes. Failure to do so means you won’t get any money back in the form of a refund, in which case you just made a donation to the IRS.
4. Do not file taxes as an independent if…Your parents can still claim you as a dependent. This can be very frustrating for students who are responsible for their own lives and pay their own way through school. However, it’s the law. If you claim yourself as an “independent” and your parents claim you as a “dependent,” tax laws are on your parents’ side until you are 24-years of age as long as you’re a full-time student. If you are under age 24 and are a part-time student, your parents can still claim you as a dependent if they can prove they cover at least half of your living expenses. And, in fact, even if you’re parents do not claim you as a dependent, if the IRS considers you a “qualifying child” or a “qualifying relative” you can get into trouble if you claim claim any exemptions.
5. Students must also claim unearned income. Unearned income is any income (money) you received that you didn’t work for. Examples of unearned income include things like interest and dividends from savings accounts or investments, gifts, prizes, inheritances, workers’ compensation or unemployment. In most cases, you won’t need to file if your unearned income for a single year was less than $1050. Otherwise, it needs to be claimed. Depending on the type of income, it may or may not affect your taxes owed or refunded.
6. Look for free tax help at your college. Many colleges and universities participate in the Volunteer Income Tax Assistance (VITA) program, a FREE program that provides tax assistance on campus and around communities. An economics professor may also be able to help, or may know of other reputable means of getting genuine tax advice. Do not trust anyone without a bona fide referral or you could be scammed.

These tips will get you well on your way to filing accurate taxes for both the IRS and your state.

This is a post from Jayson Mullin, a partner at the tax debt resolution company Top Tax Defenders.

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6 Tips For Students Filing Taxes