Our View: Paying taxes can help college students establish credit

DKS Editors

As college students, we are often quick to claim our status as adults. While striving for independence, we begin taking the first steps towards becoming productive members of society. As budding citizens, one of our many responsibilities is to pay taxes.

With tax season quickly approaching, now is the time to start filing. It’s common for people to wait until the last minute to file, but why wait when you can get it over with now? The sooner you file your tax forms, the faster your refund will be received. By filing early you also will avoid the mistakes that go along with the last-minute scramble to get your taxes done on time.

You may be thinking to yourself, “Self, I have no income; therefore, I need not file a tax return or worry about when I file said tax forms.”

You are wrong.

All students should file an income tax return regardless of whether or not they have an income. Also, it makes no difference if someone else already claims you or not.

Tax records are the first step to establishing credit history. Whenever you decide to make a major purchase in years to come, such as a house, the first thing you will need is your income tax records for the previous three years. It could make it really hard to get a loan for a major purchase in the future if you haven’t filed your income taxes.

The moral of the story: Being an adult means planning for your future. Filing an income tax return is a necessary step for all of us to take before we can delve further into adulthood.

Being an adult means more than getting to vote, drink and make your own rules. It means you have to be a productive citizen.

The above editorial is the consensus opinion of the Daily Kent State editorial board.