Im only 17 and the irs says i made 63.80 for the fiscal year and i know it cant be from work bcuz i dont work
2006-11-26 05:42:23 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
i got it through my email
2006-11-26 07:58:37 · update #1
If you had stock dividends or interest of that amount, they would have been reported to the IRS. Not to worry....if that's all the income you had, you don't have to pay tax or even file.
What kind of communication did you get on this from the IRS? If you got something in the mail, it should have said what you are supposed to do with it.
2006-11-26 06:31:52 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
It is possible to get a form 1099 from the payor by email. A form 1099 tells you how much in interest or dividends you earned in the prior year. The IRS will write to you by snail mail. Their own privacy rules forbid outgoing emails. If all you earned is $63.80, you can forget about owing any taxes.
2006-11-26 08:12:41 · answer #2 · answered by mattapan26 7 · 1⤊ 0⤋
The IRS has to use snail mail to contact you unless you authorize them to contact you by phone.
You may be required to file a tax return for the interest you got from the stocks,but it is such a low amount,I doubt you would have to pay any taxes.
You may actually get money back by filing a tax return. Talk to a tax professional our your local IRS office and show them the e-mail you received. It won't cost you anything if you go to the IRS office except the time and gas.
2006-12-01 04:05:45 · answer #3 · answered by Ralph T 7 · 0⤊ 0⤋
what do you mean "the irs says..."?
how did they communicate this to you?
2006-11-26 06:07:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋