I got this W2 thingy!?
I earned 415.39 and federal income tax witheld was 5.90
state income witheld was 7.03.
so what do I do now!?
Should I file or no?
2007-04-12 07:06:52 · 8 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Im a 20 year old college student.
Not fulltime ...only continuing studies.
2007-04-12 07:46:45 · update #1
Download a 1040EZ, fill it out and mail it in. You'll get your $5.90 back. Be sure to check the box on line 5 that says "YOU" if your parents can claim you as a dependent, which they probably can.
If you don't file, you won't be in any trouble because you aren't required to file, but you won't get your $5.90.
2007-04-12 11:45:12 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
If you want to get the 5.90 and 7.03 back you have to file IRS and State returns. If you decide it isn't worth the effort, forget about it.
If you can be claimed as a dependent on someone elses return, you can't get the telephone tax refund.
2007-04-12 14:18:07 · answer #2 · answered by r_kav 4 · 0⤊ 0⤋
To get a refund of your FIT Witheld and the State IT Withheld you must file a simple return in the State in which you reside.
in addition to a short form FIT form.
2007-04-12 15:54:06 · answer #3 · answered by laksan 1 · 0⤊ 0⤋
Your income is so low you are not required to file a return. However, if you want your $5.90 and your $7.03 back, file the returns and get your refunds.
2007-04-12 14:27:27 · answer #4 · answered by JessicaRabbit 6 · 1⤊ 0⤋
No you do NOT need to file. You did not make enough to have to file. You can call your local tax office, but i think the amount that you have to claim is after you make over 1,200.00 And if this is your first job I assume that you still might be under 18 so you can still be claimed under your parents. Hope this helps....
2007-04-12 14:38:42 · answer #5 · answered by hlugo96 2 · 0⤊ 0⤋
If you want your withholding back, you will need to file, otherwise you don't have to. Be careful with the telephone excise tax credit. You can only claim it if you had phone service in your name and had long distance on the phone line (bundled or billed separately). If you didn't have a phone in your name (landline, cell, etc.) you cannot claim it.
2007-04-12 15:07:01 · answer #6 · answered by Amy F 3 · 0⤊ 0⤋
Yes, file. Even if you are below the threshold, there's a $30-$60 telephone tax credit this year.
2007-04-12 14:15:49 · answer #7 · answered by Bootykika 1 · 0⤊ 0⤋
I think those earnings may be too low to have to file, but it may depend on some other things...go to www.irs.gov...there should be an FAQ that answers the question "who has to file".
2007-04-12 14:11:25 · answer #8 · answered by Anonymous · 0⤊ 0⤋