I got my W-2 form and old employer and they did not take out Federal taxes I made over 2K they should have. What should I do?
2007-02-01 09:49:26 · 6 answers · asked by dsander06 2 in Business & Finance ➔ Taxes ➔ United States
If that was your primary source of income, you most likely do not owe any federal income taxes, so your employer did not withhold any. As a rule, you do not have any tax liability if you made less than $5,000 and you are a dependant. You will have a filing requirement if you earn $850 in unearned income (such as a savings account) or $5,150 in earned income (such as wages).
2007-02-01 09:59:24 · answer #1 · answered by tax_black_belt 2 · 0⤊ 0⤋
If that is your only W-2 (that was your only income earned during the year), your tax liability on income of $2,000 will be zero. They probably didn't withholding anything because your income per paycheck was low enough that it did not trigger any withholding. This can be an issue if you have a lot of really low paying jobs, but in total you earned a lot over the course of the year (you see this a lot with jobs like aerobics instructors or personal trainers that works for a number of different gyms during the year). Each employer only considers the salary they pay you in determining how much to withhold. They do not consider any other jobs you may have and your withholding for that job is calculated as if that is the only job you have during the year.
2007-02-01 17:55:36 · answer #2 · answered by jseah114 6 · 1⤊ 0⤋
If you are young (teen) and this was a PT job you don't have to pay. I believe you must file on AT LEAST $8500. Check the IRS website. Big link that says, "who must file a return".
BTW- being a teen doesn't really have anything to do with it as far as determining. Its just that most teens (myself included when I was like 16) have minimal hour PT jobs and taxes are not paid because you don't make enough to withold.
2007-02-01 17:52:40 · answer #3 · answered by daven71 4 · 0⤊ 0⤋
You proceed with doing your tax return and in the part that asks for how much was withheld it will be zero (for this employer). Probably won't be a problem.
2007-02-01 18:00:08 · answer #4 · answered by Ovrtaxed 4 · 1⤊ 0⤋
If that is your only income you have no problem. In fact if you made less than 3300 and only have earned income you are not required to file.
2007-02-01 17:54:55 · answer #5 · answered by VATreasures 6 · 0⤊ 0⤋
You may be able to take EIC if you earned less than $12,120
from www.expresstaxrefund.com
2007-02-01 17:56:42 · answer #6 · answered by john_zoltan 1 · 0⤊ 0⤋