In the year of 2005, I worked in November and December, and made
a total of $1,500. I didn't do tax return files of 2005 cause I was told that it was not important for me to do tax return for such low income of only 2 months. Another reason worked for this, which is, the last check of $550 I got in January 05, 2006.
Was it right?
2006-10-30 07:58:38 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I am a permanent resident, not a citizen. Age: 22.
2006-10-30 08:03:31 · update #1
.You should have filed to get your withholding tax back
The amount in you received in Jan will not count as 05 income
The principle is called "effective receipt". You are taxed when you receive income - not when you earn it.
You may run into a problem next you file. The IRS has a long memory
2006-10-30 08:04:44 · answer #1 · answered by Irish Wander 3 · 0⤊ 0⤋
If they withheld federal taxes then you should have filed a return to receive a refund.
As for the check, if it was dated Dec. 2005 then it's part of 2005 income not 2006 because when W-2s are processed they include all the paychecks that are dated for that year, not when you receive them in your hands.
2006-10-30 08:12:17 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Actually you could have gone either way. If a person does not make over the amount of the standard deduction then the Federal Government sees no reason to file, but if you feel bad, file an amended tax return. BTW, no matter what the date on the check is, it is when the money was in your hands.... Not cash money, paycheck or cash....
2006-10-30 08:09:34 · answer #3 · answered by wallcritter 3 · 0⤊ 1⤋
You would only want to file if you wanted to get any federal or state withholding back. But, if the IRS gives you problems, it is easier to file a return to prove that you do not need to file, rather than fight with them about it. I've done it.
2006-10-30 08:08:54 · answer #4 · answered by Dave 3 · 0⤊ 0⤋
If they took taxes out, you should file for the refund.
If they gave you a 1099 instead of a W-2, you should file cuz you probably owe money.
In any case, you do not want to jeopardize your residency status by not filing.
2006-10-30 08:32:26 · answer #5 · answered by WendyD1999 5 · 1⤊ 0⤋
1) If you were a W2 employee and you had withholdings, you could have filed to get the withholdings back.
2) If you were a 1099 independent contractor, you should have filed. Independant contractor must file if your income is over $400.
2006-10-30 08:05:22 · answer #6 · answered by Wayne Z 7 · 0⤊ 0⤋
ought to you pay between the credit enjoying cards with interest off inclusive of your refund? i might do this first and pay down the different one. If no longer i might evaluate paying off the two others consistent with hazard reason they are in a position to alter their interest loose grants while you're previous due or in the event that they alter their lending practices. a minimum of then you definitely will in easy terms have 2 costs to handle and consistent with hazard next years return ought to cover the others. experts, i'm beneficial can help be responsive to to pay on those with interest down first- yet you are the single that has to stay with this and in case you should apply them returned consistent with hazard it would be sturdy interior the destiny to in easy terms use the enjoying cards without interest! consistent with hazard if all of us do this it's going to inspire companies to furnish that deal!
2016-12-08 23:58:03 · answer #7 · answered by claypoole 4 · 0⤊ 0⤋