I filed my taxes about a month ago, and have recently received my refund check. I claimed myself, because my parents said they couldn't. I lived with them for six months last year, before I moved out on my own for the first time. I asked them before I filed my taxes and they told me to claim myself. So I did. But now they're doing their taxes and have found out that they CAN claim me, because it was a little over half a year that I lived with them. They want me to ammend my tax return so that they can get the tax break. But I'm going to have to pay back some of my refund if I do that. What should I do? I moved out becuase things weren't the best between us, and my dad's been mad at me for a long time. But now he wants my help to save them money....but I'm going to lose money in the process (I need it for school and my wedding). What would you do? Do you have any advice?
2007-04-12 01:44:02 · 11 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
i would tell them that you'll admend yours if they are willing to pay the difference
2007-04-12 01:53:54 · answer #1 · answered by yeager 4 · 1⤊ 2⤋
No matter what life was/is like with your parents, you should file the amended return. It would be really nice of you dad to pay you the money you will be paying in tax since he is the one that old you to claim yourself in the first place. He will get enough of a tax break to pay your extra tax and still have some left over, so he'd still be better off. But regardless,, it is the last time this will ever happen,, so amend your return.
They may not be able to claim you anyway, depends on your age, if you was a student,, and how much money you made while living with them.
2007-04-12 02:15:59 · answer #2 · answered by Jo Blo 6 · 0⤊ 0⤋
Well the thing is your parents are right they can claim you cuz you lived with them for 6 months. They can claim you without you ammending your taxes and you would be at fault. If you are not on good terms I would suggest that you just ammend your taxes. Being on bad terms means that you can only make them better. This would be a good start. There is never a dollar amount that can come before family. Congratulations on gatting married. It does cost alot. Now if you get a penalty for claiming a false dependant it will be much harder to pay for your wedding with a 5000 dollar fine . Just amend your taxes you have plenty of years to claim yourself. Your parents spent many years raising you. Think of it as a farewell present.
2007-04-12 02:28:33 · answer #3 · answered by Jo W 2 · 0⤊ 0⤋
Since you've claimed yourself already, they'll have to mail in their return - an efiling claiming you would be rejected. You might as well go ahead and amend your return. It's not a matter of being nice - if they CAN claim you, even if they didn't, you aren't legally entitled to take an exemption for yourself - and if they DO claim you, the IRS will ask both of you to prove that you're entitled to the exemption, and they'll win on it if they are entitled to claim you - your exemption will be disallowed, and you'll have to pay back the money plus interest and possible penalties.
So whether you go ahead and amend your return or not, you're still going to end up in the same situation eventually. The people who are saying don't amend don't realize that it's not your choice - if you don't, the IRS will basically amend it for you if your parents claim you, but it'll cost you more then because of interest and penalties. You took an exemption you weren't entitled to. You didn't do it deliberately, but you still aren't owed all of that refund, they just haven't caught it yet.
2007-04-12 02:09:19 · answer #4 · answered by Judy 7 · 0⤊ 1⤋
I don't think you should amend your tax form. You have completed your taxes in the way your parents initially told you to. It is bad of them to go back on that. As you moved out because things were bad between you and your parents, it is wrong of them to use you for their own ends without considering you need the refund money too.
2007-04-12 01:59:36 · answer #5 · answered by Alex 5 · 0⤊ 1⤋
Even if you would amend your return it would take months for the IRS to process (amendments aren't a priority this close to the due date) in the meantime they would reject your parents return b/c your ss # will come up as already claimed. I would just tell them you are sorry but they gave you the OK to claim yourself & you did. There reall is nothing you can do about it now. You are an adult now anyway you need to start building your own life & worry about you.
2007-04-12 06:14:34 · answer #6 · answered by Cheyenne 4 · 0⤊ 0⤋
before this what was your relationship with them like ? that is what matters .as for the money it comes and goes .if you do not have a right to this money then give it back if you don't feel it right to give it back be a big girl and keep it .this is one of those times doing the right thing does not matter the results of what you do is what matters .how much well you lose and how much well they save /should be the deciding factor in what to do .i feel you should keep the money and let your folks do what they well remind them that you ask them what to do before you filled so you did allow them a word .you honored them buy asking before you filled that is all god demands of you .don't do this to please your parents do it because it is what you want to do
2007-04-12 04:31:37 · answer #7 · answered by henryredwons 4 · 0⤊ 0⤋
It is too late for them to do that. You already hae received the benefit of claiming you and only can be done once.
Ask them how much it would reduce their tax bill if you were claimed by them. I bet it is not enouh to really be conserned about.
Not nice of them to have said that to you. If they already knew you claimed yourself and they told you to do it then they should keep their mouth shut and pay the bill.
2007-04-12 02:09:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You have a lot of a dilemma and unfortunately it's your parents, not your taxes.
Ultimately you probably need to amend your return but it's hard to believe that it's your parents who want to force this so they can get a bigger refund.
You'll live a longer happier life if you can continue to love them despite their petty behaviour. Me, I hope they choke on the money their taking from you.
Good Luck and when you have kids, make sure you prove that sometimes the apple does fall far from the tree.
2007-04-12 01:58:59 · answer #9 · answered by Anonymous · 0⤊ 1⤋
I say don't do it. If they had filed their taxes earlier they would have known about this but they didn't. There is no reason for you to have to lose money on this and amend your tax refund. Screw that! They should have thought of that before.
2007-04-12 01:56:06 · answer #10 · answered by didi 2 · 0⤊ 1⤋