Do I have to file both state and federal? Under what conditions would someone only file state OR federal? Do you always file for both?
and if I owe to the federal, how do i pay them?
2007-02-21 05:36:40 · 9 answers · asked by hello_out_there 2 in Business & Finance ➔ Taxes ➔ United States
Some states don't have state income taxes. You will have to provide more information for me to determine that.
Certain types of income are taxable to one or the other, some are taxable to both. In order to be required to file a federal return, you must meet certain criteria, such as income more than 5,150 if single (10,300 if married filing jointly), and these amounts increase if you are over age 65 and/or blind.
If you do not meet the minimum filing requirements, but you had federal tax withheld (box 2 of your W-2 form), then you should file a return just to get your withholding back.
2007-02-21 05:42:13 · answer #1 · answered by Anonymous · 1⤊ 1⤋
There are income limits for having to file federal. If you had $400 or more income from self-employment (work but not on a W-2) you have to file. If you can be claimed as a dependent, you have to file if you made over $5150 for the year. If you can't be claimed as a dependent, you have to file if you made over $8450. If you don't have to file, but they withheld any federal income tax, then you should file to get it refunded to you.
If you owe federal tax when you file, then you'd mail them a check or money order for the amount, along with a paper called a voucher that says who you are (social security number) so they know who sent the payment.
Each state has its own rules. A few states don't have a state income tax. In many states, if you file a federal return, you also are required to file a state return. In some states, you might have to file a state return even if you weren't required to file federal. So state requirements depend on where you live.
I'm in PA, and there are situations here where people would file only state, or only federal. PA exempts pensions from tax, and you don't even have to report them, so someone with a pension of $30,000 might have to file federal, but not state if that was their only income. On the other hand, PA requires that you file a return if your income is over something like $38 total income, so someone whose only income is $50 of interest would have to file a state return, but not federal.
Most of the time though, in most places, if you file one, you also file the other between federal and state.
2007-02-21 06:09:49 · answer #2 · answered by Judy 7 · 0⤊ 1⤋
You have to file state AND federal tax returns unless you live in a state with no state income tax (like TX). You always file both, unless you make too little money to have to file (if you receive a W2 from your employer or a 1099 form from your investment firm, then you probably just go ahead and file). Once you file for the first time, file every year even if you don't make much so that you have a consistent record with the IRS.
Software programs like TurboTax are super easy to use and cheaper than going to H&R Block or an accountant. You don't need professional help if all you have is a couple of W2s to report. Just do your retun online with TurboTax--you just answer the multiple choice questions and then print it.
2007-02-21 05:45:24 · answer #3 · answered by lizzgeorge 4 · 1⤊ 2⤋
If you have a tax paying job you must file or you will be violating federal laws, I would suggest using a tax program you can buy at wal-mart. This is a software that virtually does all the work for you. If you owe taxes you must pay and I am sure if your not financially able to pay in full you can set up a payment plan. If you have a cash paying job and your boss claims you as a write off you still must file, the thing to do here is to check the limits of income. You are allotted a certain amount of money you can make before you legally have to file. This normally is like under $4,000 dollars. There are certain legal ways to bounce around it all but in the end they will getcha. Get the software it will help a lot. TURBO TAX
2007-02-21 05:43:02 · answer #4 · answered by molenz69 2 · 0⤊ 3⤋
Yes you have to do both federal and state. That is non-negotiable in both governments. If you owe they expect a check at the time of filing but will work out a payment arrangement. Don't just ignore it. They will eventually come after any property (savings, car, home etc) Some states if you have a professional license that has to be renewed such as a nurse for example, they will petition the state to not allow the renewal until a suitable payment arrangement is made.
2007-02-21 05:41:41 · answer #5 · answered by father of 4 husband of 1 3 · 0⤊ 2⤋
Each state has their own filing requirements. See your state's DOR website for information.
If you owe tax on your Federal return, attach a check to the return when you file it OR fill in your bank account information and they'll draw it directly from your checking account.
2007-02-21 05:41:00 · answer #6 · answered by Bostonian In MO 7 · 2⤊ 0⤋
you must file both state and federal. Your W2 will show taxes that have been paid to both. If you owe, there are mailing instructions in the manual to send payment.
2007-02-21 05:39:27 · answer #7 · answered by Anonymous · 0⤊ 2⤋
All of your questions are answered in the instruction booklets provided.
If your state collects income tax and you meet the minimum criteria for filing, then they want their share of your money just like the federal government.
2007-02-21 05:41:07 · answer #8 · answered by lunatic 7 · 1⤊ 2⤋
You have to file both. Easiest way....Have someone do it. Personally, I would take it to a smaller CPA who won't charge you out the *** to do it, unlike H&R Block or somebody like that! Don't freak out! It'll be ok!!! Just have someone else do it for you! : )
2007-02-21 05:45:02 · answer #9 · answered by ParisLynn16 3 · 0⤊ 2⤋