Tuesday, January 24, 1C34
Daily Ncbrcskan
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Students receive guidance
to prevent tax headaches
Cy Keresn Nlini
As the time approaches for filing
income tax returns, many people dis
cover the headaches of paperwork.
In general, students need not worry
about Cin tax returns unless their
. income b more than $3,000, said Robert
MichaeLsen, associate accounting pro
fessor. Scholarships and fellowships
are also tax exempt, he said.
If a student's parents are paying
more than half of their child's support,
they should claim the child as an
exemption on their tax form, MichaeLsen
said.
For graduate students who teach at
UNL, MichaeLsen had another tip. They
should convince their departments to
make teaching a degree requirement
That way, he said, the graduate stu
dents can claim a tax exemption for
their pay.
Which tax return form should stu
dents use? The 1040EZ form if: stu
dents are single, claim no exemption
for ae or blindness, claim no depend
ents and their taxable income is less
than $50,000. It is the shortest form at
just 11 lines.
The other two forms, the 1040A and
the 1040, are more complicated, Mi
chaeLsen said. The 1040A tax form is
for people who cannot use the 1040EZ
and receive along with their vage3
income from investments, such as
stock dividends or savings interest
The 1040 tax form is for people who
have a trust or another means of
income besides wages and those listed
under the 1040A form.
If students are confused, the Volun
teer Income Tax Assistance program
will have people trained to help. Kelly
Martin, president of accounting ho
norary Beta Alpha Psi, said the socie
ty's members will participate in the
VITA program. They will attend Inter
nal Revenue Service training sessions
and then will man booths in shopping
malls and grocery stores, Martin said.
The service is free to anyone who
would like help on their tax returns.
To get tax refunds sooner, Michaelsen
said, students should file early. The
deadline for filing income tax returns
is April 16th.
Short . . .
The Lincoln Police Department
victim-witness unit is seeking volun
teers to aid in helping elderly vic
tims of crime in Lincoln. Training
sessions will take place tonight and
Wednesday from 5 to 9 p.m.
The sessions will include role play,
in-office training and cassettes from
various speakers addressing some
of the problems of the crime victim.
Call 471-7181 before 4:30 p.m. for
more information.
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n liai:j actg on fhiday, JAnunnv 27
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Comedian Tom Parks.
Campus Entertainer of the Year
9 p.m. in the Centennial Room
at NE Union-City
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A Journey into the Imagination.
Hypnotist James Mapes
10:30 p.m. in the Centennial Room
at NE Union-City
Tickets sold at NE Union-City Booth all week.
$2.00 Student and $3.00 General Admission per act.
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