The first four months I files 3 dependants just to get a little more money because I was extremely broke. A new company took over and I changed it to 1 dependant. I have 4 months showing 3 dependants then 8 months showing 1 dependant. How do I fill my taxes out? Also I filed 3 dependants last year and didn't file at all. Am I going to owe big time or break even or get some back? Do I need to file different forms for the 2 different dependants. I need some help with this.
2007-02-05 10:41:23 · 6 answers · asked by lenny505@sbcglobal.net 1 in Business & Finance ➔ Taxes ➔ United States
theres no way of knowing what you will owe/get back without knowing your details of how much you made, your filing status, deductions,etc.
but filing different W-4s has no effect on filing your tax return. you would still file a Form 1040, (or 1040A,1040-EZ). You dont need to file two different forms for the change in withholding.
2007-02-05 10:46:45 · answer #1 · answered by tma 6 · 1⤊ 0⤋
On your payroll check, you have a Federal exemption and a state
exemption. This determines how much tax is taken out of you for
each payday. This is done on a W-4 which you give to your employer every time your want to change the amount of tax taken out. Now when you file your taxes, you will file single (if not married) or Head of household,if you have a child or children living with you for the past year and you supported over 50%. You can claim yourself (if no one else can,such as your parents) and any dependent (qualified child or qualified relative). If you owe depends on how much earned income you have,versus how many tax credits you qualify for. Earned income being one. Go to the (irs.gov) site for more info. You can also go to a library in your area and get the instruction booklets on how to fill out the federal 1040's returns. Some libraries also provide free tax services and have people there to help you fill out your returns. There are also free tax prep sites at the irs.gov site ,that allows you to do your taxes on line and e-file for free. I would suggest that you file last years tax return also this year,or at least figure it out just to see where you are with weather you owe or will get a refund. I don't know where you stand at this point. Any other questions you have
send my way,I work in the tax field.
2007-02-05 11:13:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your withholding claim on your W4 is only used to tell your employer how much tax to withhold.
When you file your tax return you claim whatever exemptions you are entitled to. You get one for yourself, and one for each eligible dependent listed on your return. If you claimed 4 for 1/3 of the year and 1 for the balance of the year you'll probably break even for 2006.
If you didn't file a tax return for 2005 you should do so immediately. If you have a refund due, you'll get it. However if you claimed 3 withholding exemptions for 2005 and have no dependents, you're most likely going to owe taxes and penalties for late filing and interest from the due date of the return. You may also owe further penalties for under-withholding.
2007-02-05 10:50:06 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
It's the EARNED income tax credit. And since you didn't have any earned income, no you can't get an earned income credit. The Additional Child Tax Credit also requires earned income to be eligible. So no, with no income, you aren't eligible to get anything back. How did you live all year with no income, and support 4 kids?
2016-05-24 19:42:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
That many dependants, u should get some money back if u didnt make too much.
go to http://www.hrblock.com
wow, u filing on kids and wife--u should get alot back
2007-02-05 10:45:38 · answer #5 · answered by sunflare63 7 · 0⤊ 2⤋
not enough info to even guess!
2007-02-05 10:47:19 · answer #6 · answered by Dizney 5 · 0⤊ 0⤋