I am currently 18 and attend college. I work for quicktrip in lawrenceville, ga. What is the limit income to not have to file taxes or laws on that. I am currently receiving help from fafsa
2007-04-23 13:54:47 · 7 answers · asked by luips 1 in Business & Finance ➔ Taxes ➔ United States
If you can be claimed as a dependent, then the limit where you have to file is income of $5150. If you can't be claimed as a dependent, then it's $8450. This assumes you're paid on a W-2, not a 1099 - if it's a 1099, then the limit is $400.
2007-04-23 14:23:07 · answer #1 · answered by Judy 7 · 1⤊ 1⤋
Regardless of whether you didnt make a dime this year you should file a return. Because this starts the statue of limitiation for the IRS to look at that tax year. If for example you had a trust or any source of income you didnt know about an you should be paying taxes on it the IRS can look back and audit that year forever if there is no return filed. So I would definatly file. And from an income standpoint do look at the deduction rules on the statndard deduction if your parents claim you.
2007-04-27 01:59:44 · answer #2 · answered by BMAC 2 · 0⤊ 0⤋
In general if you receive an income, you need to file income tax. In your situation you most likely will receive a refund for the taxes you have paid in.
2007-04-23 20:58:51 · answer #3 · answered by ♥♥The Queen Has Spoken♥♥ 7 · 1⤊ 2⤋
You don't have to file unless you make more then 7,600 dollar(thats the amount in Utah) a year but you would be stupid if you didn't you will get a refund.
2007-04-23 20:59:56 · answer #4 · answered by TANNER P 1 · 0⤊ 2⤋
BEFORE YOU FILE MAKE SURE U HAVE NOT BEEN CLAIMED ON SOMEONE ELSE RETURN...LIKE PARENTS ETC... AND IT ALSO DEPENDS ON HOW MUCH YOU MAKE AND WAS THERE ANY WITHHOLDING...IF NO WITHHOLDING THEN NO REFUND...IF YOU MADE UNDER 5K THEN NOT NECESSARY TO FILE HOWEVER I WOULD IF YOU HAD ANYTHING WITHHELD JUST BECAUSE U SHOULD GET BACK WHAT WAS ALREADY YOURS...BUT IF YOU HAVE BEEN CLAIMED ON ANYONE ELSE'S RETURN U NEED TO MAKE SURE TO INDICATE ON YOUR RETURN U HAVE ALREADY BEEN CLAIMED AS A DEPENDENT ON ANOTHER RETURN...
2007-04-23 21:17:20 · answer #5 · answered by kay 2 · 0⤊ 2⤋
If I were you I'd file. I didn't file in 3years and they started garnishing my bank account.
2007-04-23 21:06:36 · answer #6 · answered by BadGirlGimpy 3 · 0⤊ 1⤋
This video will tell you every thing you
need to know. You will be glad that
you did.
http://video.google.com/videoplay?docid=...
2007-04-23 22:55:37 · answer #7 · answered by Shangrala 2 · 0⤊ 1⤋