It’s the one day throughout the year that causes everyone to cringe — unless you work for the IRS.
Happy Tax Day, Gainesville.
For students who have worked at all in the past year and had taxes withheld from their paychecks, today is the last day to file taxes to receive a refund.
There are several tax credits available for college students, or their parents if they claim them.
The American Opportunity Credit provides a 100 percent tax credit for the first $2,000 of tuition and a 25 percent credit for the next $2,000.
The Lifetime Learning Credit is equal to 20 percent of tuition and related expenses, with a credit maximum of $2,000.
If students haven’t filed taxes yet, there are still options.
Garry McGill, a professor at UF’s Fisher School of Accounting, said students can file a simple extension form, which can be downloaded from the IRS Web site, www.irs.gov.
Some Gainesville residents who feel they've been “Taxed Enough Already,” will rally at the Bo Diddley Community Plaza from 4 to 6 this afternoon.
Laurie Newsom, vice president of the Gainesville Tea Party, said the rally aims to show local politicians that there are conservative activists in Alachua County.
“Not only are [taxes] too high currently,” Newsom said, “but they’re going to be onerous with all the new federal legislation.”
But a recent study by the Tax Policy Center, a Washington research group, found that because of tax credits, about 47 percent of the population would not have to pay any federal income taxes for 2009.
Newsom said the study shows just how unfair the tax burden is on the wealthy and businesses.
“Small businessmen are being crushed by taxes like the Florida Unemployment Compensation Tax,” she said. “People are happy to pay for police protection, the military, et cetera. They’re not happy to pay for unemployment benefits that last for two years.”
