By Paige Trendell

Students could be missing out on up to a $2,500 credit if they do not file taxes, according to Mitch Mokhtari, a University of Maryland family science professor with tax policy experience.

This credit is the American Opportunity Tax Credit. Most students who are not eligible for $2,500 are eligible for a $1,000 credit refund, even if they do not work, according to Mokhtari. 

The credit does have income limits. Students should decide with their parents whether it is more beneficial for them to file as dependents or independents, Mokhtari said.  

Mokhtari encourages all students to file taxes. 

“Filing taxes is one of the first real financial decisions students make,” he said. 

This year, the deadline to file taxes is April 15, and there are many free resources online and on campus to help students.

Some free tax-filing options for students include the IRS Free File, Terp Tax and Volunteer Income Tax Assistance. 

Freshman public policy major Becca Sharman has used the IRS Free Fillable Forms over the past three years to file taxes. 

She said the process can be annoying, but the form has some benefits. 

“What’s nice about it is that even if you do make an error, it will tell you what it is and how to fix it and what it means,” Sharman said.

She prefers going through the IRS directly rather than using a third party like TurboTax because of privacy concerns. 

“I don’t know if I want to submit that kind of information to a third party that could be susceptible to hacks or data breaches,” she said.  

Sophomore psychology major Ariyana Hall is unsure whether she will submit taxes this year and said she finds filing taxes intimidating. 

Hall added that her lack of knowledge about filing taxes contributed to her wariness of the process.

“In high school, we don’t get a lot of financial literacy. It would be nice to have a required class in high school that does that stuff,” she said. 

Mokhtari also thought filing taxes was stressful as a student. 

“I remember when I was a student, I had this anxiety of dealing with a tax form. I thought, ‘I’m going to make a mistake,’” he said. 

Students should not let worries about making mistakes stop them from filing taxes, Mokhtari said, adding that “filing is much more important than making mistakes.”

He said students can easily file taxes using the IRS form. 

“You really don’t need an expert to file your taxes,” Mokhtari said. 

“All you need to know is how to fill out forms, and most of this filling out forms is so easy. As long as you know your name, your address, your social security, you are halfway there,” he said. 

The other half includes gathering tax documents such as the W2, 1099 and 1098-T forms. 

Someone’s employer supplies A W2 and includes yearly earnings and taxes paid. A 1099 is used for freelance work and a university sends their students a 1098-T, Mokhtari said.  

Students who file taxes set themselves up for future financial success. Mokhtari said students can start a successful retirement account by investing their $1,000 tax refund and continuing the habit of investing $1,000 annually after graduation. 

According to Mokhtari, “[students] are losing a huge opportunity by not filing taxes.”

Featured Image: The Lee Building, which houses the office of Student Financial Services and Cashiering, on April 1, 2026. Photo by Paige Trendell.