I started my first job at a grocery store and i worked there for at least 3 weeks before i got fired. Do i still need to file taxes if my total earnings were $338.38
2007-05-22 11:21:39 · 17 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The precise answer depends on your age and whether or not you are a dependent of somebody else.
If you are not a dependent and are over the age of 18, then you would need $8,450 of income in 2006 to be required to file. (Standard deduction of $5,150 plus the personal exemption of $3,300) Some states have different thresholds than the federal one, but since you didn't say where you live, I can't address that.
The reasons for filing include the Earned Income Tax Credit (EITC), but with earned income of $338, you wouldn't get much. If you had income taxes withheld, then you would get a refund.
Did you have any interest or dividend income in 2006? Did you sell any stocks or mutual funds? If you answer yes to either of those questions, the correct answer to your question will possibly change.
2007-05-22 11:25:11 · answer #1 · answered by Buda d 2 · 0⤊ 0⤋
At $338.38 total income you have no tax liability and are not required to file. If you earn anything from another job during the year, you must include this in your total income when determining if you must file. In any case, the store probably withheld Federal income tax. You have to file to claim a refund of that amount.
Edit: garyg7: if $338.38 is TOTAL income, there are NO conditions where a return is required. Even a self-employed dependent is not required to file with less than $400.00 income.
2007-05-22 12:07:17 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
The precise answer depends on your age and whether or not you are a dependent of somebody else.
If you are not a dependent and are over the age of 18, then you would need $8,450 of income in 2006 to be required to file. (Standard deduction of $5,150 plus the personal exemption of $3,300) Some states have different thresholds than the federal one, but since you didn't say where you live, I can't address that.
The reasons for filing include the Earned Income Tax Credit (EITC), but with earned income of $338, you wouldn't get much. If you had income taxes withheld, then you would get a refund.
Did you have any interest or dividend income in 2006? Did you sell any stocks or mutual funds? If you answer yes to either of those questions, the correct answer to your question will possibly change.
2007-05-22 11:34:24 · answer #3 · answered by garyg7 7 · 1⤊ 2⤋
No you don't, if that's your total earnings for the year. But if they took anything out for federal income taxes, you can file and get it refunded to you.
Better luck with your next job....
2007-05-22 13:54:59 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Yes. You have to file to get withholding refunded. You may also be elegible for EIC and the telephone excise tax refund for 2006. Thar's gold in them there tax forms, go for it.
2007-05-22 11:55:59 · answer #5 · answered by acmeraven 7 · 0⤊ 1⤋
You may get Earned Income Credit. Can't hurt!
But no, you don't have to file.
2007-05-22 11:24:02 · answer #6 · answered by heatheroo 2 · 0⤊ 1⤋
No but you would probably get some money back. The EZ form really is easy to fill out.
2007-05-22 11:24:40 · answer #7 · answered by marie 7 · 0⤊ 0⤋
did anybody else notice that the biggest problem with this question? Tax day is over my friend!! Good thing you don't need to file.
2007-05-22 11:30:17 · answer #8 · answered by Anonymous · 0⤊ 2⤋
No. You only need to file if your earnings were over $3,500 for the year.
2007-05-22 11:24:55 · answer #9 · answered by luv2help 5 · 1⤊ 2⤋
You won't owe any, but you might as well file to get back anything you paid.
2007-05-22 11:23:52 · answer #10 · answered by Anonymous · 0⤊ 0⤋