I work and pay bills so why don't I get a tax check? Do my parents get it instead?
2007-10-01 18:38:55 · 8 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It depends on how much you told your employer to with-hold to cover your taxes. If you had them hold too much, then you will get a check. If you didnt, then you might end up owing.
2007-10-01 18:47:06 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Do you pay anything in? At the end of the year, you figure your amount of tax for the year. Then you compare that to what was withheld from your paycheck for federal income taxes. If too much was withheld, you get a refund of the overpayment. If not enough was withheld to pay the tax you owe, then you have to pay the rest. If you don't owe any tax but didn't have anything withheld either, then you're even - you don't have to pay, but don't get a refund either, there's nothing to refund.
A tax refund isn't some kind of gift to you from the government for working. It's just a refund of an overpayment if you made one. Think of it as going to pick up a pizza and handing the cashier a $10 bill for payment (your withheld taxes). If your pizza (your tax due) costs only $8, then you'll get $2 back (think refund check). If your pizza costs $13, then you'll have to pay an additional $3 over the $10 you already paid. If your pizza costs $8 and you get the change, it's not that the pizza parlor just gave you $2, it's just giving you back the extra that you paid. And if you don't buy anything (think don't owe any taxes) then you don't give them any money - but they don't give you any change either.
2007-10-02 03:10:20 · answer #2 · answered by Judy 7 · 3⤊ 0⤋
If your parents claim you as a dependent on their taxes (depending on your age, they likely do, if they're taking care of you and paying all your upkeep) then they would be filing the total household taxes and receiving any tax rebate check of taxes overpaid during the year (or owing if underpaid -- and fines if significantly underpaid).
If you filed your taxes separately, so they couldn't claim you as a dependent, then you would either owe any remaining unpaid taxes or receive a rebate check if you overpaid during the year.
If your parents filed with you as a dependent and you think you should be receiving some tax rebate back from what you paid, you might take it up with your parents, if you've figured out what you would have owed and thus would have any return. Keep in mind that your combined income is likely in another tax bracket than you would be alone, so the percentages would change; but you would be a deduction on their tax forms. Not the most straightforward subject!
... of course, you run the risk of your parents saying, well, if you don't want to be a dependent, you can pay for your insurance and car and food and housing and cable and internet and...
2007-10-02 01:52:51 · answer #3 · answered by Katie W 6 · 0⤊ 3⤋
You're not getting a tax check because you weren't over taxed in that year of work. The only reason you receive money back from the government is because you overpaid on your taxes. If you don't overpay, you don't get any money back. Bills have nothing to do with it
2007-10-02 01:43:19 · answer #4 · answered by Medik 2 · 2⤊ 1⤋
Did you file your taxes even if you parents claim you? You have to file to get a refund.
2007-10-03 10:38:12 · answer #5 · answered by Gary 5 · 0⤊ 0⤋
since people under 25 get charge more for vehicle insurance maybe that is why you parents are paying but ...you can pay them back that way you all stay in the same insurance but you pay your parents. =0)
2007-10-02 01:47:19 · answer #6 · answered by Miss Vix 2 · 0⤊ 3⤋
you will receive a tax slip in the mail but your parents will probably claim you to get more money. Just tell them that you want your slice of the pie since its your money. Good luck though I never got mine either.
2007-10-02 01:42:16 · answer #7 · answered by Anonymous · 1⤊ 4⤋
not if you're claimed as a dependent.
2007-10-02 01:47:17 · answer #8 · answered by Andrés 4 · 0⤊ 3⤋