I'm 21 y/o and I never filed taxes before. The reason being is because people have told me it wasn't neccessary since I'm a student. I've worked plenty of jobs from the age of 16 up unitl now. Every job I've had I always filed exempted except for probably one job. I decided I was going to file my taxes this year since I have a child thats due in Sept. and I can claim her. Right now I'm working on an internship that pays pretty good and I had a job earlier this year with a Mortgage company but they're closed down for business, which means at the end of the year I will only recieve 2 income tax returns. If I file this year, do you think I will owe the IRS any money from the previous years and if so how much?? I don't want to claim my child then have the govr'n take away my whole refund.
One more thing....Am I eliglible for a refund if I filed exempt with my internship?? I didn't file exempt with the Mortgage company but I was only there for about 2 months total.
2007-07-24 07:50:33 · 10 answers · asked by brittany_mo2000 2 in Business & Finance ➔ Taxes ➔ United States
Thanks everyonebody!!! Your input has been very helpful. Just to inform you all, I never made over $13,000 in one year. I've been doing a summer internship for the past 3 years and I've also never kept a job for over 6 months, so that's how I've pretty much been making my money. I did some independent contracting work for a few months (maybe 2 or 3) and never earned over $400 with both of the jobs combined. I'm not sure if my annual gross income makes a difference, but someone mention it in there answer
2007-07-26 16:03:22 · update #1
Each tax year stands on it's own. For 2007 you will only be taxed on the money you made in 2007. I'm assuming that you are on your own now since you are 21. Since you will be having a child this year you are able to file as head of household, and will get higher standard deduction and an extra exemption as well. You might also be able to claim the earned income credit and also get some or all of the $1,000 per child tax credit. Without knowing exactly how much you earned in previous years it's impossible to tell you whether or not you have any tax liability for previous years, but if you have your W-2's from those previous years, you can download the irs tax forms and instructions for each of those previous years and see if you owe anything. Who knows, you might find that you are owed a refund. But if you are you only have 3 years to file a return from the due date to claim a refund. That means that any tax year from 2003 and backwards is past the statute of limitations for you to file a return and claim the refund. Good luck with the new baby.
2007-07-24 08:21:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You never get a refund if you didn't pay any money into anything. If deductions were made from your paycheck to pay Federal Income Tax, that is the only money that you may be able to get back if your total income is so low that you have no tax obligation. When people file their income tax, they have already paid money in -- the reason to file is that you feel that the amount you paid in was more than you should have and you want the excess returned. Go to the website for the IRS. It is very user friendly and you could probably take the numbers you have and get a pretty good idea whether you owe money or are owed money. If that doesn't help you -- call the IRS! They are people just like you and I and they are very helpful. Put your mind at ease -- don't ask friends or even family for their imput - you'll drive yourself nuts and lose sleep. That's what the IRS agents are for and they are NOT the boogey man -- after all, your calls to them give them job security!
2007-07-24 08:03:01 · answer #2 · answered by felixthecat 6 · 0⤊ 0⤋
There are a number of issues in your question.
First of all, filing a W-4 as "exempt" doesn't mean you don't have to pay taxes, it just means that they don't take out income tax from your paychecks. If you make enough that you are required to pay any tax, then you still owe it, plus probably a $500 fine for illegally claiming exempt.
Depending on how much you made per year, and whether you were a dependent or on your own, you might or might not have owed anything. If you make less than a certain amount each year (and it goes up a little each year) then you didn't have any tax liability, and weren't required to file anyway. If you got W-2's from your jobs and never heard from the IRS about not filing, chances are that you didn't make enough to have to file or to owe anything - if you had owed, the IRS would probably have contacted you. Warning - they run a couple years behind on this, so you could owe for the last year or two and they just didn't catch up with you yet.
Whether or not you'll owe this year depends on how much you make and what you have taken out. If you have a child this year, chances are reasonable that you won't owe - and depending on how much you make, you might be eligible for an Earned Income Credit.
2007-07-26 14:13:52 · answer #3 · answered by Judy 7 · 0⤊ 1⤋
You can call the IRS and ask them. If you give them your SS # they can look it up and see what was reported on your number for the past years and tell you if you owe any tax and if you are required to even file a return for past years, which if you do probably won't be much money. I assume you're doing this to get earned income credit since you're having a child, right? The credit will most likely make it well worth it paying a little bit of back taxes.
2007-07-24 07:59:14 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If I understand your question, it sounds like someone has been giving you bad advice. I don't care if you are 16 or 62, if you make a certain amount of income you must file taxes. I would start by filing the most recent ones and pray you don' t get an audit for any back taxes.
2007-07-24 07:54:28 · answer #5 · answered by VH 2 · 3⤊ 0⤋
You cannot file single while you are still married. But you may be able to get tax relief from the IRS. In some cases, a spouse (or former spouse) will be relieved of the tax, interest, and penalties on a joint tax return. Three types of relief are available to married persons who filed joint returns. 1. Innocent spouse relief. 2. Separation of liability relief. 3. Equitable relief. Married persons who did not file joint returns, but who live in community property states, may also qualify for relief. See IRS Publication 971 and Form 8857 for more details.
2016-05-17 11:12:05 · answer #6 · answered by ? 3 · 0⤊ 0⤋
Usually they will contact you and let you know that you owe. I think tax law is different from state to state, but what would probably be the best thing is to call the IRS directly and find out that way. Trust me, if you owe, they will get they're money one way or the other. Just call them. They're number should be on their website somewhere...
www.irs.gov
2007-07-24 07:58:11 · answer #7 · answered by Shay_Shay03 4 · 0⤊ 0⤋
it doesn't matter that you're a student...then only that would keep you from owing, is if you make under a certain amount (poverty level). Contact an accountant immediately, as the mounting interest levels will make you in debt.
2007-07-24 07:53:38 · answer #8 · answered by Chickenfarmer 7 · 1⤊ 1⤋
If you owed the IRS...believe me, you would know!!!
You can run, but you can't hide!!
2007-07-24 08:04:59 · answer #9 · answered by Anonymous · 0⤊ 0⤋
oh you'll know
2007-07-24 07:52:58 · answer #10 · answered by shy_n_secertive 2 · 0⤊ 0⤋