2007-01-11 12:00:52 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Depends on how much you made. You could get some back if you qualify for the earned income credit or you could have to pay including interest and penalties. You need to have at least 90% of your ultimate tax obligation deducted otherwise you'll pay big time with fees. The IRS doesn't want you earning interest on their money, that is the reason.
2007-01-11 13:05:46 · answer #1 · answered by Dark Helmet 2 · 1⤊ 0⤋
That all depends on your financial and family details. How much money you made this year, your deductions, what "type" of dependents you're caring for, and a host of other issues will determine how much you owe or how much you're going to get back.
If you made less than $39,000 this year, you may qualify for a free tax return preparation through the VITA program (see the link). You should definitely look into that--the volunteers can help you get every deduction and credit possible.
2007-01-11 13:24:38 · answer #2 · answered by celeste 3 · 0⤊ 0⤋
The answer is it depends. If you qualify for earned income credit then yes you will receive a refund. If you have had a phone in your name or qualify for the additional child tax these are additional refundable credits. If you post additional information about you income I might be able to give you an estimate of your refund.
2007-01-11 12:38:19 · answer #3 · answered by misskenzie12 2 · 1⤊ 0⤋
i also have 2 dependents and claimed tax exempt. it all depends on how much money you made. if your dependents are you children you can claim earned income credit if you fall in the right money brackets. so YES you may be getting back a tax refund.
2007-01-11 12:27:57 · answer #4 · answered by starla 3 · 0⤊ 0⤋
Did you have any earned income this year? If so, then you might qualify for earned income credit. That is one way that you will get a refund this year. Also, you should get a refund of the telephone excise taxes. I think the maximum credit is $60.
2007-01-11 13:13:34 · answer #5 · answered by Steve 6 · 1⤊ 0⤋
The answer is no. You might get a small amount of money. It depend on how much money you make. I don't know all the details.
Take Care,
Incomestorm
http://homeincomebiz.ws
2007-01-11 12:12:03 · answer #6 · answered by Incomestorm 2 · 0⤊ 0⤋
That does not sound right. You should talk to a tax professional.
2007-01-11 12:13:11 · answer #7 · answered by suz' 5 · 0⤊ 0⤋