Who taxes your income? The federal government and the state government – these are separate entities. A student living in a dorm at Principia College and working on the Principia College campus will be paying taxes to the federal government and to the government of Illinois.
How do you pay taxes? By filling out forms. Lots of them.Well, among other steps. Not to worry, though – we’re here to help you through it.
During your first week at Principia, you will fill out tax withholding forms that authorize your employer (Principia) to withhold part of your income on behalf of the government.
During the tax year (Jan 1 to Dec 31), a portion of your income is withheld from your earnings on behalf of the government. At the end of the tax year, you will have earned a certain total amount in income and paid a certain total amount in taxes. The amount of taxes you are supposed to pay is based on your annual income. Therefore, early the following year, you are required to reconcile your taxes (otherwise known as filing taxes). When reconciling you may find that you underpaid taxes. In this case, you would need to pay what you owe in taxes. You may also find that more of your income was withheld than needed to be; in other words, you overpaid taxes and now the government owes you, and refunds you!
Once you have your documents ready, now it’s time to fill out your tax filing forms. Your tax filings are federal as well for each state in which you worked during the particular tax year, each filed separately. (For states with tax reciprocity agreements, you may not need to file for each state separately.)
Glacier tax prep software is available to Principia students on a non-resident alien status to prepare federal tax filing documents. We recommend accessing the software through the Glacier portal after updating your information (or verifying that your information is up-to-date. Follow the prompts to complete your federal tax returns and print the forms generated at the end of the process. Verify that all the information is accurate and sign as appropriate.Illinois 1040 (used to file individual tax returns) can be found and prepared here. Please note that, if you were an Illinois resident during the tax year for which you are filing taxes and worked in another state, you will need to declare your out-of-state earnings when you file your Illinois taxes.
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303