Part-Time and Summer Jobs - YouTube video text script
Here's a tip from the IRS.
Hi. My name is Eric and I work for the Internal Revenue Service.
You know, many students don't realize it, but the money they make from working at a part-time or a summer job needs to be reported to the IRS.
In fact, if you're not careful, you could even end up owing the government money.
But, you know, it doesn't have to be that way.
Let me tell you just a little bit about how the system works.
You know, when you start a new job, you fill out a Form W-4.
That's a Withholding Allowance Certificate.
Now, your boss uses the information from that form to figure out how much tax to take out of your paychecks.
Now, here's something else to keep in mind.
Many students overlook filing a tax return and they forget to report the income they received from that part-time or summer job.
Now, the bad part of that is, is that when you don't file, you may be overlooking a tax refund.
So don't leave money laying on the table.
Get it right, file a return come tax time, and get the money you deserve.
Learn more by going to the IRS Web site, IRS.gov.