By Cathy Bowen and Robin Kuleck, Penn State
UNIVERSITY PARK — Millions of Americans complain that they pay too much in income taxes but get a large refund annually because they overpaid their tax bill. A Web-based seminar series sponsored by Penn State’s College of Agricultural Sciences will help taxpayers understand the basics of federal and state taxing systems and legal ways to pay no more than their fair share.
“Understanding Income Taxes: What you don’t know could cost you” is a five-part program designed to help taxpayers understand basic principles relating to income taxes. The presenters — Robin Kuleck, director of Penn State Extension in Elk County and a certified financial planner, and Cathy Bowen, professor of agricultural and extension education — use their experience assisting taxpayers with filing income tax returns to explain key concepts about the taxation process using IRS forms and nontechnical language.
“While income tax filing season is coming to a close, that does not mean you should put your returns in storage and forget about taxes until the next filing season,” said Bowen. “In fact, now is an ideal time to review this year’s tax return and plan for possible ways to cut next year’s tax bill. If you wait until Dec. 31, it will be too late. Review your return and look for opportunities to make changes so you pay only your fair share next year.”
The $35 program addresses federal income tax basics using Form 1040 and Pennsylvania income taxes. Practical strategies to maximize tax benefits are a detailed component of the program that should benefit taxpayers.
Participants will complete the five sessions of the program on a self-paced basis. To register, visit the program site online