If you made under $1000 in 2006 do you need to do taxes?

Question

I know it's somewhat late to ask. I did this small job while in university. My school did not take out any taxes. Any tax experts know?

Answer 1

To me it sounds like you worked at a small part-time job at your university, and then when you received your W2, the wages were under $1000 and there was no federal withheld in Box 2, correct?

If that is the case, then you are not required to file a tax return because if you are single, you do not have to file a return if your gross income is not more than $8,450 (or not more than $5,150 if you are a dependent).

My son had a part-time job while he was in school and only made about $2600 and he only had about $85 dollars in taxes withheld. He was able to get it all back by filing a return, but since you did not have any taken out (probably because you made so little) there is really no need for you to even bother with it! :)

Answer 2

As mentioned before, it depends if you were an employee or an independent contractor (W2 versus 1099).

For a W2, you definitley do not need to file, if you received a 1099 and its for more than $400, you do need to file as you will owe self employment tax. Make sure to deduct your costs of doing business.

As a side note, if nobody claims you as a dependent, you just might qualify for the EIC. You may want to look into that.

Answer 3

As stated before, if you made less than $1000 in W-2 income no. If the income was from self employment (1099 MISC) then yes if it was over $400.00. And despite the prior post, students are taxable, they just don't always earn enough to have to pay taxes.

Answer 4

It also depends on how much under $1000 you made....If I remember correctly you can make up to $600 and you are not taxed for it. I would just check with a tax person to make sure...one thing you do not want is the govt. coming back years later wanting there money and charging you intrest.

Answer 5

You should file for the simple fact that whatever you lost in taxes, you will get back in a refund! I only made $3,500 in 2006 and I got every penny of my taxes back, which was nice!

Answer 6

you could in simple terms take the CTC as much as the quantity of the taxes you owe. So in case you do no longer owe adequate to pay taxes, then you definately don't get the CTC. there is a few thing referred to as the added baby tax credit, nonetheless, that should likely provide you multiple the the remainder of the $one thousand in line with baby. CTC isn't a deduction, it truly is a credit, and which potential in spite of you get does come greenback for greenback off your tax invoice.

Answer 7

If it was considered self-employment, yes, and if no taxes were taken out, it sounds like it was. If you got a 1099-misc form for it, showing the amount as non-employee compensation, it was self-employment. If you didn't get paperwork on it, it probably was. If you got a W-2 form, then you don't have to file.

Answer 8

Depends. If this was W2 income, no. 1099 income, yes. Go straight to the source. Look up your situation on www.irs.gov

Answer 9

if you made more than $400. profit from self employment you will need to file to pay social security tax,, even if you don't otherwise need to file
if the earning were reported to you on a form 1099Misc you are considered self-employed
if the earning were reported to you on W-2,, don't file
If the earning were not reported to you ,, don't file

Answer 10

no, you don't have to. you can, if you are a student you can get all of your money back. students are tax exempt (the govt. is not supposed to tax us).

you made a response to one of my responses a while back. about you being black and dating a white man. i would put money on it that you go to a white school/live in a white area. i live in a black area and go to a black school, and trust me, it doesn't happen. AND, apparantly, i'm not ugly. i thought so, untill spring break. we went to mertle beach and there were tons of white women and i got approached like soooooo many times i didn't even know what to say.