Im a college freshmen student. I just got my first job in november, i order to fill the FAFSA (aka financial aid worksheet) have to have some taxes file. My dad is in jail since November too, so he did had an income until this then, now he does not. Some of my coleagues (we are all college students) advise me not file my taxes, because since I earn so little its not really important (9 dlrs an hour, 10 hrs a week)however I do not want to get into any trouble whatsoever. So thats my first question, should I file taxes?
My second question is, should I file as dependend or not, because as little as I earn I support myself ( I live with a lady who is old -94- so she does not charge me any rent or anything, just because Im her company) ???
2007-01-27 18:48:37 · 5 answers · asked by monica c 1 in Education & Reference ➔ Financial Aid
If you had any federal or state taxes withheld from your paycheck, it will show this on your W2 you will want to file a tax return because most of this money if no all will be owed back to you. You should also be able to file a TeleFile or 1040EZ which are the easiest tax forms, TeleFile actually does all the calculations for you over the phone, so you can do them yourself. With such little income the government won't get mad at you for not filing but if they owe you money why not ask for it back.
As far as dependent or not are you talking about tax returns or FAFSA? For the tax returns with as little income as you make it might not matter, filing as dependent may help your dad out if he earned any money in 2006. You can go online at www.irs.gov and find phone numbers for free tax advise from the IRS about this situation. Now for the FAFSA you don't have a choise on dependent or independent but if your father is the only parent you have living and he is in jail you might be able to tell your financial aid office about this and see if they can make an exception for you.
2007-01-28 01:39:09 · answer #1 · answered by appylover 4 · 0⤊ 0⤋
Monica - if you were still under 18 for all of 2006 you can only fill as a dependent anyway - so it doesn't matter. Just because your father is in jail - he still has to file taxes and he may still be able to claim you. Regardless - unless you did not make over $5150 in 2006 you don't have to file a tax return if all your income came from work income. However, if you had any federal and/or state withholding tax removed from you paycheck - the only way you we get that money back in a tax refund is to file your taxes.
I do not understand this relationship with the 94 year old lady - but if she isn't going to claim you as a dependent (and your dad can't claim you) it really doesn't make any sense that you file as a dependent. You do not have file your taxes for the FAFSA if you did not make over $5150 last year from work income.
Good luck!!!
2007-01-28 03:02:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's a time for you to learn about income taxes. If you may be a dependent of your father, get professional advice. Your college may have financial aid counselors qualified to advise you where to begin. Your dad will have to file a return on his income. You may still need answers to the questions pertaining to parental income.
Based on your own income of only $90 week or so -
if income taxes were withheld - you have a refund coming -
but normally on that amount - no tax would be withheld.
Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
To determine if you need to file a Federal Income Tax return for 2006 answer the following questions:
see the link to this page
2007-01-28 03:14:46 · answer #3 · answered by birdwatcher 4 · 1⤊ 0⤋
If you make over $7,700 a year you will need to file, but I doubt you did, so that answers that. As for your second question, you should only file independent if no one else is going to claim you as a dependent. Ask your parents/guardians if they are going to. From what it sounds, you should be able to file independent, which is a good thing since you'll get a personal deduction from your taxes and likely get any of the taxes you payed back since you made so little.
2007-01-28 02:58:50 · answer #4 · answered by HaphazardJoy 4 · 0⤊ 0⤋
You can not list yourself as a dependant on your own taxes. If your parents claim you as a dependant, then by all means, check the box when that question is asked.
Now, since you asked the question, that is clear evidence that you should not be doing your own taxes.
2007-01-28 03:01:07 · answer #5 · answered by maddojo 6 · 0⤊ 0⤋