Hi, I am a part time employee who only work 16 hours per week and get paid little bit above the minimum wage. Is there any way not to pay the tax? I heard that there was something about that... for students, tax is not deducted till the first $2000 earned. Is there such program? If so.. where can I find info about it?
2007-01-11 18:28:13 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
yes
2007-01-11 18:34:27 · answer #1 · answered by cork 7 · 0⤊ 0⤋
If you worked 16 hours a week at a little above the minimum wage, you made perhaps $100 a week and $5,000 a year. Your employer will provide you with a W-2 form by January 31 showing your taxable income and withholding.
If your taxable income is at the level you indicated, then you will no tax. File single with zero exemptions using form 1040EZ. You will get any tax withheld back.
I said zero exemptions because you are likely a dependent given your question.
2007-01-12 02:51:47 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
If you don't make the minimum amount to have to pay taxes, then you can claim "exempt" on the W-4 you fill out for your employer and they won't withhold any federal income tax. If you to have federal income tax withheld, you can file the following year to get it refunded to you. The way you describe your hours and pay, you'll probably fit into this category. If you are a dependent and make over $5150 for the year, you'll probably owe a little bit of tax but not much. Being a student has no effect on your taxes.
2007-01-12 20:06:41 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
yes, for the first part of your question. and search revenue or tax office for the second part of the same question. hope it helPS.
ps. you will have to file and in all probabilities you will get a refund. i agree...it does not make sense but the government gives jobs to people who do
the paper work back and forth. and it is called full employment instead of hidden
unemployment. voila.
2007-01-12 02:36:03 · answer #4 · answered by s t 6 · 0⤊ 0⤋
My Grandfather got a bill from the IRS last year and he's dead!!! so my guess is YES!! you do. Tax is based on a percentage of your earnings and not on the amount you earn.
2007-01-12 02:33:46 · answer #5 · answered by hawkeye1248 1 · 0⤊ 0⤋
most likely, check the irs online for the rules
2007-01-12 02:31:02 · answer #6 · answered by dragon 3 · 0⤊ 0⤋