i was talking to a guy and he said that there is some federal law. something like because he was in college he did not have to pay income tax
2007-02-20 04:14:19 · 4 answers · asked by guitarbuttmunch88 1 in Business & Finance ➔ Taxes ➔ United States
They are not exempt from tax. You may not have to file if you made less than as certain amount depending on your filing status. I am betting that was what he meant. Check out the link below to see the filing requirements that apply to you.
2007-02-20 04:33:41 · answer #1 · answered by R Worth 4 · 2⤊ 0⤋
The guy you are referring to might not be talking about income tax, but Social Security and Medicare tax withholding.
According to Publication 15 a college student employee working at a college where they are attending classes are exempt from Social Security and Medicare taxes.
2007-02-20 04:59:39 · answer #2 · answered by jks_mi 3 · 0⤊ 1⤋
It's called not making enough money to owe taxes. Your student status can't exempt you from taxes if you make enough to owe anything.
2007-02-20 13:50:20 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
ive heard about that as well, as far as i know, you can file Exempt for the year, meaning you pay absolutely no federal withholding, however, my only question is do you have to pay it back come tax time?
2016-05-23 22:48:45 · answer #4 · answered by ? 4 · 0⤊ 0⤋