I know this is probably a complicated formula, but if someone could give me a general idea, I'd be grateful. In 2006 I made (gross) $18,424. I paid 1,648 in federal taxes. I'm single, no dependents, no assets or any kind of IRA or anything like that. But no one can claim me as a dependent of theirs, either. So I'm pretty much alone.
Will I get any money back? Will I end up owing more? :(
2007-01-14 10:46:25 · 10 answers · asked by Jennie O 1 in Business & Finance ➔ Taxes ➔ United States
The $559 refund is right (don't forget to give yourself the $30 telephone credit) unless you are over 65, in which case you would get $581.
It's not complicated, do 1040EZ:
http://www.irs.gov/pub/irs-pdf/f1040ez.pdf
2007-01-14 11:34:15 · answer #1 · answered by ninasgramma 7 · 1⤊ 0⤋
It depends on how you classified yourself on your w-4 form when you started working.
If you classified yourself as Single, 1: Chances are, they will take out not enough for your taxes and you will owe taxes.
If you classified yourself as Single, 0: They will take out either the right amount or too much for taxes. You would either not owe anything nor get a refund or you could get a refund.
This is what happened with me when I was single and working without dependents. When I first started working I claimed myself as single, 1 on my w-4. That year I owed taxes.
The next year I switched to single, 0 on my w-4. That year and all years after that, I got a refund.
The best form to file is a 1040EZ. This is all for Federal. Different states run their taxes differently, but I always got back a refund from NJ.
2007-01-14 10:57:02 · answer #2 · answered by Nancy 6 · 0⤊ 2⤋
You don't make a lot of money, so you will get a tax return based on those numbers.
However, you did not state what your deductions are. To be certain, look at the 2006 income chart at www.IRS.gov.
Also, how come you don't have a retirement fund??????
2007-01-14 11:11:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
My tax software says you will get a refund $994. Don't worry about expenses, you automatically get credit for them as a standard deduction.
2016-03-14 05:52:11 · answer #4 · answered by Irene 2 · 0⤊ 0⤋
Unless there's something else you don't mention, your taxes will be $1119, so you'll get a refund of $529.
2007-01-14 11:07:00 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
depending on where you live, some states have an income tax in addition to the national tax, you should get some back probabbly a good little bit......but i very seriously doubt you will owe anymore.
2007-01-14 10:55:42 · answer #6 · answered by Anonymous · 0⤊ 1⤋
you can do your taxes with a short form and you will get some money back,unsure of the amount for fed,and in regards to state,
it varies in each state.. Pick up one of those tax form at the post office and calculate it yourself.. No I don't think you will have to pay more,,but it varies...
2007-01-14 10:57:27 · answer #7 · answered by tshark44 5 · 0⤊ 1⤋
Your refund is $559.
Thank you, Mr. Wizard!
2007-01-14 10:52:20 · answer #8 · answered by WealthBuilder 4 · 3⤊ 1⤋
You will get a return go to taxact online free and free e-file and can do it right now!
2007-01-17 13:38:30 · answer #9 · answered by beckybuttus 2 · 0⤊ 0⤋
it's open to discussion and there are basically several answers to the question...
2016-08-23 15:11:45 · answer #10 · answered by Anonymous · 0⤊ 0⤋