During the previous tax period I went from being a full-time student/dependent to niether. I quit the job that I was at when I filed for exempt. When I started the new job I was no longer either of the previous status' that qualified me for tax exempt. So that job pulled out taxes.
Do I still have to pay the taxes that i was originally exempt from (1st Job) when I file my taxes even though I was exempt at the time the were taken?
2007-04-08 15:40:31 · 5 answers · asked by Brandon A 2 in Business & Finance ➔ Taxes ➔ United States
Thanks Wayne, your answer matched my situation perfectly.
2007-04-08 15:56:13 · update #1
Whether you owe tax depends on your income for the entire year. So if on the first job you expected not to owe any taxes, but ended up making enough for the year that you do, then yes, ALL of your income for the year is taxable, including the first job where nothing was withheld.
2007-04-09 03:27:35 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
100% Yes! Furthermore, they should have complete disclosure on their earnings. They are supposed to be working for the public good. Spreading the word of God. Saving lives. Sharing good will around the world. Taking care of the sick and homeless. How in the hell can they afford the buildings they call churches! Give me a break. 70% of the worlds population starving and the Catholics own a damn city! Evangelic preachers get rich! Someone end this nightmare! The Church is a predator, feeding on the innocent and ignorant. Making false promises, giving back nothing, and expanding their own base of power and control throughout the world. WAKE UP!
2016-05-20 04:44:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You would not have to pay taxes because at that time you were exempt from them. But know you actually might get a refund because they are now taking out federal taxes which is a good thing. Remember if you travel for your job or have home mortage interest, charity donations, dependents, or medical history, you can itemize and lower your tax rate. Remember to have receipts for everything in case you are audited. Hope this helps you!
2007-04-08 15:48:49 · answer #3 · answered by Levitra K 1 · 0⤊ 2⤋
"Exempt" means exempt from withholding, not exempt from taxes.
You add all of your W2s together for the year regardless of what you claimed on the W4 when you first started.
In my first year of working, I owed both the feds and the state money due to filing "Exempt" at my job.
2007-04-08 15:51:08 · answer #4 · answered by Wayne Z 7 · 1⤊ 0⤋
Tax returns are a summary for the year. If you worked, you were not a dependent, and you earned more than $8600 last year, you MUST file. If you earned less than this, and you are over 25, you'll WANT to file because you'll be eligibile for refundable credits.
--A Damn Fine Tax Advisor
2007-04-08 15:48:41 · answer #5 · answered by WealthBuilder 4 · 0⤊ 2⤋