what is the minimum anual income you need to make to pay taxes in the Us?

Question

if you make 2,000 from a summer job in 1 year, would you pay taxes?

or just file paperwork with the IRS.

Answer 1

The federal government only requires that you file a tax return if you make over $6,000.00 in a year, if deductions were with-held by the employer. How-ever if the employer with-held no deductions then you are a 1099 employee (sub-contractor) and are required to report earnings over $600.00 and would have to pay some federal tax, medicare and social security. If taxes were with-held, it may be in your interest to file because you'd probable get most of it back. If taxes were not with-held you might want to ask your employer if they are going to report your earnings, if they are not no one would know, except you, and you do have a legal obligation to file on 1099's over $600. I hope this helps.

Answer 2

For federal, limits for having to file last year were $8200 for someone single and under 65, but were $5000 if you are dependent of someone else. So with $2000 in summer job income, no, you would not have to file, and would not owe any income tax to the feds. But if any income taxes were taken out, it's in your interest to file to get your money back.

Depending on the state you live in, and the local municipality, though, you might owe income taxes to them.

Answer 3

You will pay Social Security. Sux, don't it?

Back in the early 80s, I was making $2000 per year. I had to send in 11% of it, about $220, for social secuirty. Benefits for Social Security then were about $8000. So, the government was taking money from me and giving it to someone who made four times what I did. D---ed reverse Robin Hood.

Answer 4

if its a w-2 wage then no you do not need to file unless you paid withholding and want it back....on such a small amount i doubt you paid in more than $200 but a 1040 ez is worth filing to get that money back.....the limit for 2005 was $8700.00

Answer 5

If you made 50 cents the government wants a half of it.