2006-09-26 19:45:23 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
between the range of $1000 to $2000 per dependent, and also depends on who does your taxes as well.
2006-09-26 19:49:44 · answer #1 · answered by Sullita 2 · 0⤊ 0⤋
Your tax liability depends on your filing status.
Assuming that you have no other income.
If you are filing head of household with 1 dependent, your maximum federal income tax liability is $633.
If you are filing single with 1 dependent, your maximum federal income tax liability is $929.
The reason, I'm saying maximum is because depending on the age of the dependent and the relation you might also qualify for dependent care credit, child tax credit, education credit which will further reduce your tax obligation.
Your question on how much you can get back will be the amount of your federal tax withholding exceeding the tax liability as stated above.
2006-09-27 19:50:08 · answer #2 · answered by JQT 6 · 0⤊ 0⤋
You need to go to a Tax Accountant to file your tax return for you. I am an Accounting student, and know that the standard exemption for each dependent is $3,300, but you may have others as well. In addition, this figure changes annually. If you don't want to pay for a Tax Accountant, you can simply read the instructions on your appropriate tax forms (read the instructions for Form 1040, and it can detail what additional forms you may need to use, if any). This can take time, but in general is relatively simple reading, once you get the hang of how the IRS likes to word things. Just go to the IRS website (irs.gov) and look up Form 1040 and download it (if you don't have a hard copy in front of you), and go from there. Good luck.
2006-09-27 02:59:06 · answer #3 · answered by Dave 1 · 0⤊ 2⤋
That all depends on what you filed on your w 4 as exemptions as to how much you paid in versus how much you owe to tell you how much you get back.
2006-09-27 09:41:33 · answer #4 · answered by LORD Z 7 · 0⤊ 0⤋
This depends on if you itemize or get any other credits. Go to:
http://www.irs.gov/individuals/index.html.
You will be able to find out more information here.
2006-09-27 08:57:04 · answer #5 · answered by littlebettycrocker 4 · 0⤊ 0⤋
There are in general 9 elements in a federal income tax return.
1.Filing Status
2.AGI (income)
3.Minus Deduction
4.Minus Exemption
5.Equal to Taxable Income
6.TAX is base on taxable income
7.Minus Credit
8.Minus Payment
9.Equal Tax due/ Refund
year is 2005
1. Head of household
2. AGI is ...........................$20000.00
3. less Deduction is .........$7,300.00
4. less Exemption (2) is ...$6,400.00
5. equal Taxable Income is $6,300.00
6. Tax base on Taxable Income is ....$628.00
7. Credit.............................................? unknown
8. Payment
a. w2...................................................? unknown
b. EIC (earn income credit)................ $1,750.00
9. refund ..............................................$1,122.00
My best guess is that your 2006 refund is about $1,200.00 If you have child care credit or withholding on your W-2, it will effect your result positively.
Please go to the IRS website in helping yourself get on the EIC correctly at http://apps.irs.gov/app/eitc2005/Forward_Eligibility.do;jsessionid=D6nS2GGfT773PF39G9tGWDHNm4b155R1pmbdywWnQFnPcpYLKgnG!192159823!750639981
2006-09-27 08:32:24 · answer #6 · answered by Kenshin 5 · 0⤊ 0⤋
That all depends on who does your taxes.
2006-09-27 02:49:50 · answer #7 · answered by heather47374 4 · 0⤊ 2⤋
It depends on many, many things, chiefly what you've put in.
2006-09-27 12:07:59 · answer #8 · answered by misslabeled 7 · 0⤊ 0⤋
nothing
2006-09-27 14:44:52 · answer #9 · answered by twinky 2 · 0⤊ 0⤋