While many are unaware of the importance of tax season, all would be in favor of a student refund tax

Every year businesses, organizations, and individuals gear up for tax season. Getting receipts, expenses, donations, and all other necessary paperwork in order is just the preliminary steps to making sure money is returned, instead of owed.

Annual income tax returns are a part of American culture. Once one begins employment, filling out W-4 forms and adhering to information regarding annual wages becomes a part of life.

However, just because one is able to work, does not mean they are equipped with the knowledge needed to do taxes. In fact, most Americans do not know how to properly fill out their tax forms. Which is why there are so many companies available to perform the work for them.

The extent of knowledge the average person possesses include claiming all major expenses, donations are tax-deductible, and never report exact amounts, if possible.

Though this may be the knowledge of an average person, some college students may not even know these things. It’s a sad truth but the largest portion in the workforce are not aware of some of the money they deserve. Or conversely some of the trouble they could get into from taxes.

In the State of Florida, there is no individual income tax, but businesses are taxed. On that note, many businesses receive tax breaks, or reimbursements because of some deals they make, or actions taken during the year.

While some might not see anything wrong with that, the fact that students, whether working or attending school full-time, receive no official tax breaks or reimbursements. Sometimes, the federal government will award grants and funds to be distributed through a third party, school, or otherwise. But most of the time, when a student has an outstanding loan, no one is there to foot the bill.

Student loans, lab fees, books, scholastic accessories, all are within the realm of not only being non-tax-exempt, but to add to the sting, even contain a sales tax. This is a hardship many students must deal with, and only discourage the desire to continue with higher studies.

Without directly stating that students should receive tax refunds, some system should be in place to award investment into America’s colleges. This would mean any donations, or spending to support schools would also receive these benefits (in fact, many already do). So why then could this not apply to the investment made by students. Whether it be via loans, scholarships, or just hard-earned income, a way to encourage all students should be in place.

It would require a tiered system so that those with already some assistance would get different amounts different times, and those with none might be in the top tier, but all would receive a proportionate amount of return on their investment. Only by viewing help for students as returns, not aid, can a serious discussion of reinforcing the decision to spend thousands of dollars on statistical better job placement make any sense.

While understanding all of the intricacies of completing tax forms, is an entire graduate class all its own, simply making the same effort to support college attendance as much as running a business fairly, is not that hard to see. While most students might not even make that much money on a tax return, if at all, that doesn’t reflect the amount of hard work and man-hours put into getting good grades. After all, whoever said an ‘easy A’ was ever easy on the wallet?