I am 19 yrs old, single and still live at home. I filed four W-2's this year and I'm not getting at least 350$ back. Why am I getting shorted on my taxes this year?? Arn't I suppose to get everything back?
2007-02-19 02:36:34 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No my parents do not claim me anymore.
2007-02-19 02:39:05 · update #1
That's why they call it a taxes. Welcome to adult hood.
2007-02-19 02:44:51 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Look at your W2's and see how much federal withholding there was. My daughter is 20 and worked all year and only got $350 back this year as well. She had to pay a lot of federal taxes, and just so you know, you do not get back whatever you paid in federal unless you make under a certain amount during the year.
2007-02-19 12:13:03 · answer #2 · answered by MarineMom 6 · 0⤊ 0⤋
If your parents can't claim you any more, then the first $8450 that you make doesn't get taxed. If you made over than, then you owe some tax, so don't get everything back that was withheld. If you made somewhere around $12,000 for the year, then paying $350 in tax would be abour right.
You only get everything back if you make so little that you don't owe any taxes.
2007-02-19 23:38:29 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You're not getting shorted. You only get back the difference between your tax liability and what was paid in via withholdings. Since you didn't post your income, AGI, taxable income, tax and withholding amounts it's not possible to say if you did something wrong.
If you earned more than $8,450 in 2006 you will have some tax liability. There's no way around that.
2007-02-19 10:50:42 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
You should contact the IRS and ask them for a history of your account.
I work at a cpa firm and see many times that the IRS has adjusted accounts for unreported income and mistakes done by taxpayers.
However, you should compare your tax return to the information from the IRS to make sure that the adjustments made by the IRS are correct.
Sometimes the IRS screws up and you should always check.
2007-02-19 15:31:50 · answer #5 · answered by D D 2 · 0⤊ 0⤋
One thing to consider when working for more than one employer in a year....Each time you change jobs they start you back at zero for taxable income. If you work for more than one employer, it may be wise to up your withholding with them. If you are working for multiple employers throughout the year, remember that your mileage from one job to the next is deductible.
good luck & blessing
2007-02-20 12:04:04 · answer #6 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
Most people don't get "everything" back.
Welcome to the real world.
2007-02-19 10:41:04 · answer #7 · answered by Wayne Z 7 · 4⤊ 0⤋