What are all of the full time student tax exemptions?

Question

Before you start to type that full time student's are not tax exempt and that they are treated no different than everyone else realize this:
It IS possible to be exempt from council tax.
I have heard that it is possible to be exempt from FICA.
Ive heard someone say something about income tax as well, but I am skeptical about that and I think he might have meant that thats the way it used to be. So my question is what are all of the full time student tax exemptions? Are there any programs for full-time students that do sort of the same thing like refunds or full blown exemptions?
Cmon, I know there are some shifty well informed students out there. Also I open the response up for high school studies as well, I am not talking entirely about college students. I am not sure if there is a difference, but I am curious to find out.
Oh and by the way I am talking about United States Taxes.

Answer 1

Council tax is in the UK, not the US. So I guess you could say that you're exempt but then everyone in the US is since we don't have that nasty little bugger here.

Very few people are exempt from FICA. It's not based on student status but on who you work for -- SOME teachers and railroad employees if memory serves. Every dollar of earned income is subject to FICA even if you don't earn enough to pay income taxes.

The only exemptions from income taxes are income based. If you are a single individual and are not claimed as a dependent by another taxpayer your tax-free limit is $8,300 for 2006. If you make any more than that, you MUST file and pay any tax due.

There are no "full-time student exemptions". You get one personal exemption for yourself and that's it. One more if you're legally blind. But everyone gets those.

Stop trying to scam the system. Those who do lose in the end. It might take the IRS a while to get you on their radar screen, but I promise you that once you are you'll DEARLY regret whatever it was that you did that got you there.

Answer 2

What you placed on your w-4 relies upon on how lots you anticipate to earn. in the journey that your income would be below approximately $5000, you could exempt your earnings from federal withholding. How lots you prefer withheld for state withholding will matter on the state you reside in. examine along with your state to work out what the customarily occurring deduction is for a single individual. whether it is greater desirable than the federal often occurring, then you definately could have a similar withholding for the two and be fantastic. whether it is way less that what you anticipate to make in the process the 12 months, you need to have some state tax withheld.