I'm a married college student who has never made more than 7,000$ annual income. I read a couple of years ago somewhere on the irs website(i think) that dependants don't need to pay income tax until they make over 7,500 or something like that. Is this true? and if so, now that I'm not a dependant, when do i have to start paying taxes? You would think it would be easy for me to figure this out but i have searched everywhere on the internet and cant find anything about it. Thanks ^_^
2007-03-02 09:50:07 · 6 answers · asked by Mac M 1 in Business & Finance ➔ Taxes ➔ United States
all of these answers are great but what i need to know is if i need to pay income tax, not file for a tax return. thanks again
2007-03-04 18:04:29 · update #1
For 2006, if you can be claimed as a dependent, then you don't have to file or pay taxes if your income is under $5150. If you were single and not a dependent, the limit for having to file would be $8450 if you were filing a joint return. Married filing jointly, lower limit is $16,900 total for the two of you. Married filing separately, lower limit is $3300. This assumes you are under age 65, and none of your income is from self-employment.
I found this on page 12 of the 1040 instructions, which I happen to have handy - you can find it a number of other places also on irs.gov
2007-03-03 10:53:31 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Chances are you have already paid taxes and you should file a return to get what you paid back. You probably do not owe anything in fact you could get a refund back. AARP has a free tax service for people with a low income check up on it in your area they might be able to help you. Make sure you have all your W-2's ready and everything you need and you can ask them all the questions you need answered. It's good thing to check into. Along time ago I was living at home not making much, but I filed anyway and I got some back and anything is better than nothing.
2007-03-02 18:06:00 · answer #2 · answered by Vivianna 4 · 0⤊ 1⤋
go irs.gov. or the public library has tax booklets. if you can read and follow line by line instructions its not as complicated as everyone makes out to be. does your wife have income ? you need to file a return if you make over a certain amount. ($3000.00 i think) you would most likely get back more than you paid in, so by all means file. the question is filing status. married filing separately or together. depends on what her income is.
2007-03-02 18:08:07 · answer #3 · answered by splaz57 2 · 0⤊ 0⤋
Use the website below to determine whether you must file. However, even if you don't need to pay anything, you should still probably file. You are probably due a refund if anything was withheld from your pay for income taxes.
2007-03-02 17:59:04 · answer #4 · answered by Tom's Mom 4 · 0⤊ 0⤋
If you earned wages, you have to file an income tax return. If your employer paid federal icome taxes, you may qualify for a return of what was paid in. There are two reasons to file a tax return.
2007-03-02 17:59:47 · answer #5 · answered by regerugged 7 · 0⤊ 2⤋
You would need to file jointly with your spouse and combine both incomes.
2007-03-02 17:56:47 · answer #6 · answered by bernel1403 5 · 0⤊ 2⤋