Do I have to pay income taxes?

Question

I heard from someone that on the tax form I filled out at work, there is an option stating that if I do not plan on owing any taxes this year, I do not have to pay income taxes. If that is true, I could save six thousand dollars this year, all money I could put towards NOT living in my car.

Is this true, and if so, how can I figure out if I will have something to pay at the end of the year?

Answer 1

You are right, on a much deeper level than what you fill out on your W-4.

Income tax, as would be due by you is a "direct un-apportioned" tax... clearly stated in the document that founded our country as unconstitutional. Chances are, most people who read this question are completely exempt from paying State and Local Income Tax.

And before anybody argues the point that the 16th amendment changed this, the Supreme Court ruled that the 16th amendment did not add any new taxes what-so-ever... it basically restated what was already said in the Constitution but with different words.

Charging citizens with an income tax for most U.S. citizens is illegal, and people are being thrown in jail for it every day. But that is the government and society we live in today... the government says jump and we say how high? What is the point of living in a free country where you can question your government if we never do so?

If you don't believe me, do a little research. You'll find tons of information on Supreme Court rulings, the inexistence of a law that requires citizens to pay income tax, and the like. There is no law, and even if there was, it would require an amendment to the constitution to be applicable, and there is no amendment.

Do everyone a favor.. do some research, find out the fact, and send as much information as you can find to every local newspaper, tv station and radio station you can think of. There are countless people in jail right now for doing something that isn't illegal, and they need to be set free.

Answer 2

The form is the W-4 that you fill out when you start work. It is true that if you meet deduction requirements they will withhold little or no money. It is also a federal crime to submit false information on the W-4. Then to top all that off you will still be required to file and pay taxes, by the way you will pay an additional 10% penality due to underestimating you tax liability. Just think how hard it would be to come up with six thousand you will still have to pay. So you take out another loan to pay the taxes and not you can't pay your loan.

In general this is truely a bad idea.pp

Answer 3

This Site Might Help You.

RE:
Do I have to pay income taxes?
I heard from someone that on the tax form I filled out at work, there is an option stating that if I do not plan on owing any taxes this year, I do not have to pay income taxes. If that is true, I could save six thousand dollars this year, all money I could put towards NOT living in my car.

Is...

Answer 4

On your W-4 there is an option to claim exempt. This can only be used by someone who does not expect that they'll owe any taxes this year, and didn't owe any last year. If you turn out to be wrong, you still have to pay the tax, it just does 't get withheld from your paycheck. If you owe very much, you will also be penalized. Plus you can be fined $500 if you claim exempt falsely.

So NO it's not true. Nothing would be withheld from your paychecks, but your penalties for falsely claiming exempt would just end up costing you a lot more money.

Answer 5

You have to pay income taxes unless you have enough deductions to have zero taxable income.

Look at your tax return for 2006. Did you have a tax liability then (Not meaning did you get a refund)? If so, unless things have drastically changed, you will have a tax liability this year too.

Answer 6

If you're projecting a $6,000 tax liability, you don't qualify for exempt status. Exempt means that you expect to have $0 in tax liability and therefore taxes don't need to be withheld. If you expect to earn anything more than $8,750 (Single, no dependents, not a dependent yourself) then you don't qualify to claim exempt from withholding.

FYI, $6,000 in Federal Income Tax withholding equals about $43,000 in gross income. MORE than enough to move out of your car!

Answer 7

If you are having 6,000 in Federal Taxes withheld, more than likely when you file your return you would not be getting a refund of all of the Federal Withholding, so you would not be able to claim exempt from Federal Withholding.

Take your most recent paycheck stub and go to the Withholding Calculator at the IRS website to help determine what you should be claiming on your W4 to ensure enough is being withheld so that you do not owe when you file your return.
http://www.irs.gov/individuals/page/0,,id=14806,00.html

Answer 8

If you had $6000 taken out of your paycheck, I guarantee that you have to at least file with the IRS. Whether you have to pay, is determined by your tax status and several other things.
What your friend is refering to is the option that you know that you will not make enough, or that your filing status keeps you safe.

Answer 9

I have been a tax accountant for 27 years. Listen to "Boston" and "Judy,; they are absolutely correct. I would only hasten to add that, if you file an exempt W-4 with your employer, the employer is required to send the W-4 to the IRS. The IRS will then check its records on you and, if it seems to them that you have improperly claimed exempt from withholding, you will be getting a very stern letter.

Answer 10

I've never heard of anything like that. You can file extra dependents on your W4 and keep more cash each week. If you won't earn enough to pay, then it won't be an issue. You still have to file.