I'm 15 and only made $800 from a summer job that lasted only about 2months. Some ppl say I have to pay taxes, others say I will get back a return or something like that. My employer sent me a official sheet saying how much I made etc.. I'm not sure what that is or what I do with it, and do I need to file anything. Please Help
2007-03-26 12:40:45 · 16 answers · asked by Laura 3 in Business & Finance ➔ Taxes ➔ United States
If the form they sent you says W-2 at the top, then you aren't required to file, but if they took out any amount for federal income tax (look in box 2 of the form) then you can get it refunded to you if you file - if that box is blank or zero, then no, there's no reason to file, you don't have a refund coming.
For a W-2, you can file a form 1040-EZ. Be sure to check the box on line 5 that says you can be claimed as a dependent. Download the form and instructions at irs.gov - you should be able to fill it out without much trouble, it explains well how to do it.
If the form they sent you says 1099-MISC, then yes, you have to file a tax return.
Just a word of warning - most of the answers above are WRONG.
2007-03-26 14:20:12 · answer #1 · answered by Judy 7 · 1⤊ 1⤋
What did you claim on your W-4?
The answer is this....You by law do not have to file a tax return because you were under the guidelines (I believe it's still $9,650.00 and you are either independent of head of househould) of total income made. But if you were to file (that is if you claimed zero or 1 on your W-4) then you might be entitled to a refund. However, if you did claim exempt then there would be no point in filing a return because more than likely the taxes that were taken out were next to nothing (only the taxes that apply to your state disablility and or social security)
Also, you can verify my statement by going onto www.irs.gov website and see the guidelines of filing. Also, you can call or go to the IRS office.
But it is always important what you state on your W-4 form. That is how your employer knows how much taxes to take from your paycheck. In college I always claimed exempt so that I never had to file a return until I graduated from college.
2007-03-26 12:46:31 · answer #2 · answered by mailjunkie123 3 · 0⤊ 3⤋
Look at the form and see if it says W2--if it does your top number is your gross wage, then it will say on the next far right colume the amt of fed tax withheld, next come ss and medicare then state tax. If all the columns are blank except the ss and medicare then you have nothing coming back and no need to file---you cannot ever recover monies paid to SS or Medicare. You might talk to your parents maybe they could give you a bit of a clue.
2007-03-26 13:15:59 · answer #3 · answered by lilabner 6 · 0⤊ 1⤋
The easy answer, no. You don't even have to file. The government does not take anything under $2000/year into account. Keep the W2 for your future records. It may be that the government owes you money, depending on how much you made vs how much they took in taxes. But generally, if you made less than $2,000, the IRS does not even take it into consideration and there's no reason to even file. However, as you start earning more in the year, yes, you will have to file. And depending on how much you made, you may or may not have to pay.
2007-03-26 12:47:32 · answer #4 · answered by lupinesidhe 7 · 0⤊ 2⤋
No you do not have to file. If you make under $6000 a year. I work for a major tax firm. You can choose to file for a refund but it will be small, do not go to a tax preparation office like H&R Block, Jackson Hewitt, or Liberity Tax Service, they will all charge at least $100.00 and it is doubtful that you will get that much back anyway. I work for one of those three places i mentioned so that's how i know how much they charge. Try www.taxact.com if you want to file, it is free for the Federal Return and as low as $9.95 for the State if you have to file a state return.
2007-03-26 12:50:35 · answer #5 · answered by ? 1 · 1⤊ 3⤋
Follow Judy's advice (Bostonian said basically the same thing in less detail). Those 2 know what they are talking about, most of the rest of the answers are wrong.
2007-03-26 16:30:11 · answer #6 · answered by CarVolunteer 6 · 0⤊ 0⤋
You didn't earn enough money to be required to file a tax return. However, if you had any income taxes withheld you should file a tax return to have them refunded to you.
2007-03-26 12:48:07 · answer #7 · answered by Bostonian In MO 7 · 3⤊ 1⤋
Fill out a form 1040-EZ. If you can read these forms are really easy to fill out. It would be good for you to fill this out because you will most likely get any taxes taken out back. You can get the form here:
http://www.irs.gov/pub/irs-pdf/f1040ez.pdf
If you do need help, IM me and I will walk you through it.
2007-03-26 12:51:41 · answer #8 · answered by ragbagz 3 · 1⤊ 2⤋
Hi! On your form that you get from the employer it should say on the back the amount of money that you have to earn before you have to pay taxes. You have to pay social security taxes though. Your employer should take care of that (maybe) They usually just take it out of your paycheck.
2007-03-26 12:46:27 · answer #9 · answered by Chelsey 2 · 1⤊ 4⤋
yes if you only made that little amount you will get all of the taxes you paid returned to you
2007-03-26 12:48:37 · answer #10 · answered by Anonymous · 0⤊ 3⤋