Usually my mother claims me and last year I ended up paying the IRS $400 that I did not have. I do not want that to happen again. I want to file on-line, and since I'm new I want to make sure I include everything so I get back what im entitled to if anything at all. I'm a full-time college student, live with one roomate, have my own car which I make the payments eachmonth, no kids, and I work part-time. I just need some ideas on the best way to go about filing and also a good site to file on. Free preferably but im willing to pay as well
2007-02-02 01:46:20 · 8 answers · asked by kraz_e_luv03 1 in Business & Finance ➔ Taxes ➔ United States
Take your W-2 form to a tax specialist. You can find these at H&R Block or there are accounting student that volunteer to help people that can't pay CPA's to file their tax returns. Also, you can find great filing tips at www.irs.gov/efile
Since it's your first time filing as a single status individual, the e-file on the IRS website is free, take advantage of this. The e-file approach has two major advantages. First, compliance with the format required by the IRS eliminates errors that would other wise occur. Second, the time required for processing a refund usually is reduced to three weeks or less.
2007-02-02 02:05:22 · answer #1 · answered by Sabrina H 2 · 0⤊ 1⤋
If you provide over half of your own support, then you cannot be claimed as a dependent on another return. I am assuming you will claim yourself.
Your rent and car will not figure into you tax return.
Your standard deduction is $5,150. You should take the standard deduction based on your information. If you paid for school, (even with borrowed money), then you may be eligible to reduce taxes owed by using the Tuition and Fees Deduction, the Hope Credit, or the Lifetime Learning Credit.
Here is the link to the IRS Free File site.
http://www.irs.gov/efile/article/0,,id=118986,00.html
2007-02-02 01:59:18 · answer #2 · answered by ninasgramma 7 · 1⤊ 0⤋
www.turbotax.com. it's free, don't fall for their price plan filing. It asks questions about your income & any deductions, walks you through every step and calculates for you. With e-file and direct deposit, you can get your return in less than 2 weeks. Only file federal though, they will charge u for state.
P.s. I believe as a student, you should get all your federal tax back that you paid in. I always did. But my parents haven't claimed me since I was 17.
2007-02-02 01:55:38 · answer #3 · answered by Anonymous · 0⤊ 1⤋
i'm 22 as well and i am gonna file on-line for the first time as well. i'm gonna use turbotax. you can find it on www.irs.gov and i will pick the cheapest one which is $15. my sis is gonna help me fill it our though since i'm new at it, so that part i can't help you with but good luck!! maybe you can ask someone if they have used it before.
2007-02-02 02:01:46 · answer #4 · answered by Essie 6 · 0⤊ 0⤋
unfortunately you dont have any deductions. you have to report your wages of course, from your W-2. do you provide more than half of your own support? do you live on your own or in a dorm? if you live on your own and provide more than half of your own support then you can claim yourself and get the deduction.
you can file for free at www.taxactonline.com
2007-02-02 02:04:46 · answer #5 · answered by tma 6 · 0⤊ 0⤋
Gather your W-2(s) and use free file at
http://www.irs.gov/efile/article/0,,id=118986,00.html
2007-02-02 03:28:30 · answer #6 · answered by Riannaa 2 · 0⤊ 0⤋
there are sites which can reduce your tax payment by providing coupans. here is the one site which can be use ful in this regard
2007-02-02 22:36:41 · answer #7 · answered by Allan H 1 · 0⤊ 0⤋
Ur moms screwed you.
2007-02-02 02:01:38 · answer #8 · answered by Buddy Love 2 · 0⤊ 1⤋