Many students and teachers take summer jobs.

Employees must fill out a Form W-4 so their employers will know how much federal income tax to withhold from their paychecks. The IRS has a Withholding Calculator Tool that can help employees determine the number to use for their withholdings. Social Security and Medicare Taxes will also be withheld from employee paychecks. Employers are required to provide employees with a W-2 by January 31 of the following year. Employees will need to use their W-2 to file their income taxes.

Self-employed workers should make estimated tax payments to avoid penalties and interest at tax time. Self-employed workers should keep a record for any work related mileage and receipts for job related expenses. These expenses can be deducted from your income and reduce your taxes. If a self-employed worker is receiving non-employee compensation over $600, they should receive a Form 1099-Misc from the person or company that pays them. 1099-Misc Forms are due to workers by January 31 of the following year.

If you work a summer job but aren’t required to file a tax return, you may want to file a return anyway. You may be able to have the taxes that were withheld from your paycheck refunded to you.