My boyfriend got laid off in 2006, but never filed for unemployment. His total wages earned in 2006 is $8163. This is less than the standard deduction of $8450. I'm really not sure what to do at this point. I know he has to file, but what does he need to do on his tax form (1040 EZ form)? Any help would be greatly appreciated!!
2007-01-31 16:26:35 · 4 answers · asked by katie1nel 4 in Business & Finance ➔ Taxes ➔ United States
Unless your boyfriend can't claim himself he is NOT required to file if any and all combined income totals less then $8450. Now if he can claim himself, just because he doesn't have to file doesn't mean he won't want to. On his W2 in box 2 titled "Federal Wages Withheld" is the amount he'll be getting back! So you should base the decision to file on that.
Now if he can't claim himself (if someone else has the legal ability to claim him) then he is required to file, and he'll only get the standard deduction of $5150 and won't get the full amount in box 2 back.
State taxes are another story all together. I hate states, they all have their own silly laws and many have insane filing requirements (PA makes you file with anything over 33 dollars of income) so he may or may not need to file a state return depending where you are.
My suggestion would be to wait until next week, or so, once the tax season usually slows down a little and have him visit an HR Block office with his W2. I know I'm always more then happy to give estimates on refunds and advice on filing requirements for simple returns at no charge. But this week is usually pretty insane, so try to wait till they're a little slower, you'll likely get a nicer responce!
2007-01-31 17:02:42 · answer #1 · answered by Treyot 2 · 0⤊ 2⤋
He needs to file because he earned more than $600. The GOOD news is that since he made less than the standard deduction he will get every penny back that he paid in federal taxes.
2007-02-01 00:35:08 · answer #2 · answered by Michael D 2 · 0⤊ 0⤋
he should definitely file in order to get a refund of all tax paid. all he has to do is look at the w-2. box 1 shows taxable wages. this would be entered on line 1 of the 1040-ez.
box 2 of the w-2 shows federal tax withheld. this would go on line 7 of the 1040-ez.
file online for free at www.taxactonline.com or buy turbotax. hes probably also entitled to get the earned income credit. the software will calculate this all for him.
there, its easy, you see? i did it for you!!
2007-02-01 04:28:39 · answer #3 · answered by tma 6 · 0⤊ 1⤋
He needs to file, and he'll most likely get money back. Have him go to HR Block, it's worth the cost.
2007-02-01 00:36:00 · answer #4 · answered by DixieNormus 4 · 0⤊ 0⤋