$$$$$$$$$$?

Question

I've heard that if a minor makes over one thousand dollars in a year, they can get that money back from W2's. Is this true? if not, what is.

Answer 1

It is nothing to do with being a minor. A single person can make up to $8,450 per year without any tax. Anything indicated in a W2 will be refunded when you file your tax return.

Answer 2

If you had federal income tax withheld, you can file a tax return and will probably receive at least part of the money back. If your income is above a certain amount that depends on if you are a dependent of someone else and if you have any unearned income, you are required to file. Assuming no unearned income, the limit is $5150 for a single dependent and $8450 for a single non-dependent. Below these amounts, you should receive a full refund if you file. Above them, you must file.

Answer 3

Yes that is correct. You must file a tax return, most likely a 1040EZ. You can deduct the standard deduction from your total income. The standard deduction for 2006 is $5,150.

If you are single no dependants and earn less than $5,150 on your W-2 than you will receive all of the Federal withhold back as a refund.

Hope that helps.

Answer 4

yes, you can get mney back. Persons under the age of 18 don't have to pay fica taxes, so you can get that money back, and since you made so little you can get back your federal taxes, just depending on your state, you may not be able to get your state withholding taxes back.

Answer 5

They can get whatever money the put into federal and state if your state has state taxes. They can't get the whole $1000 back only what they put into federal.

Answer 6

no that's not true you make $$$$$ buy being a model and all you do is walk.e-mail me at [e-mail]

Answer 7

I'm not sure but if you go to Irs.gov You can find out for sure.

Answer 8

W2's? what's that?

Answer 9

it's not true