I dont understanad taxes..im 18 i live on my own i have a job but they dont take out taxes ..so who do i pay?

Answer 1

at the end of the year when you file a return you'll actually owe money instead of getting a return...this is because they haven't taken any out over the year...so you should save up some to pay that bill....you will have to file at the begining of next year like everyone else.

Answer 2

At the end of the year, you will either get in the mail, or you need to go get a 1040 EZ form. Or better yet, get the basic turbo tax software. For your situation that will be best. Take your W2s which you get from your employer and it will walk you through it. It is really easy to do on the 1040 EZ. At the end of the year if you owe taxes, it tells you how much and where to send. Because you didn't pay any, you don't get any back. But if you are making anywhere near a decent wage and there are no taxes taken out... well it could be a shock. Somehow though, I'm betting you will not owe any.

Answer 3

I have canned explanation to apparently clueless independent contractors:

Some employers try to get around paying employment taxes (social security and unemployment) and other employee benefits like workers compensation insurance by improperly classifying employees as independent contractors. If you are required to show up for work--personally--at a particular time, punch the clock, use the employers equipment and are paid an hourly rate, you are an employee. If you didn't understand the difference when you posed your question, I would be even more convinced that you are an employee. What is your preference, Slotted or Phillips? Complete an IRS Form SS-8 to get an official ruling on your status. This will help you get unemployment if you get fired. When you file your income tax return, you can attach Form 8919 Uncollected Social Security and Medicare Tax on Wages and only pay the employer's half of social security. You will still have to cough up all the income tax.

Answer 4

Its seems that you are feeling and taking in all the guilt and everyone elses problems. You should be happy that this person has agreed to take on the role as the baby's father, but remember you and him are still extremely young to be parents. I would only let him try to be the father of my child if i was in a relationship with him, which im hoping you are? I would also just stay around home, as you could gain a lot of help and information from your parents as they have rared children before (you). They may be distressed or angry but there emotions arent changing anything for the better, only the worse. You are about to be a mum to a wonderful child, you should shake off all the hurt and negative emotions you are holding on to and be the best mum you can to that child:) What happens when your baby grows up and finds the cure for cancer, becomes an international singer, an oscar award winner, and olympian? They need great upbringing to bring out the best in themselves:) and having a happy childhood is the most important and effective part of life:) Good luck girl:)x

Answer 5

Here is the deal. In 2007, if filing as single (using a 1040EZ) if your income was between 0 and $7,825 the IRS will tax your income at 10%. If it was between $7,825 and $31,850 the IRS will tax you $782.50 plus the portion of your income that exceeds $7,825, but not $31,850 at 15%. Don't worry, if you file a tax return, the IRS will not come beat down your door for a $800 check. As a taxpayer, by the mere fact that you are living and breathing, you get an exemption of $3,400 called your "personal exemption". Most likely, you are not earning an income that you will actually have to pay taxes on. The fact that your employer is not withdrawling taxes from you pay means that you not in the "hole" with the IRS. This is becuase since you haven't paid anything in, its a wash. If you did file a return with no taxes paid during the year, at your income level, you might receive a letter from the IRS saying you have no need to file.

In my opinion, the federal goverment probably would prefer you not to file. The longer they don't hear about any of your income, the less they will have to pay you in social security benefits and medicare. There are alot of people out there that are paid "in cash" or "under the table". They think it is a good thing, but it ends up biting them in the butt later on. If you pay nothing, or very little, into Social Security and medicare, don't expect to draw much later on in life. Not that I am saying S.S. is a retirement fund, but people that get paid "under the table" usually don't save money or invest in mutual funds. They get to old to work and then have absolutely nothing to fall back on.

Of course I am not advising you one way or another, but hypothetically, you could forego filing any taxes this year and no, the IRS wouldn't come throw you in jail for tax evasion (they have bigger evaders to fry then most of us). In this situation I would advise you to either insist that your employer withhold taxes or find another form of employment that will. Later, that social security benefit will help out in retirement age. Oh, and start saving now for retirement. You begin saving at 18, even if it is only a few dollars a week, that savings will pay off big time in the future.

Answer 6

Good job on having a job and being able to live on your own.

Depending on your job, they should be taking taxes out already. Your paystub will show how much they are taking out. Did you fill out a w-2 when you applied to work?

Did you fill out Tax Exempt? If you did then no taxes are being taken out. Also if you are a 1099 (self employed employee) no taxes will be taken out. You will get all your tax documents in the mail before the end of January in 2008. Then you need to go to a tax person or online like (hrblock.com) to do your taxes.

being that you are on your own, and now working, you may want to consider giving yourself protection and the ability to ask questions regarding taxes, irs audits, speeding ticket representation and so forth.
Take a minute to check out http://www.dontgowithoutit.com and highly consider this for your future and your protection.

Answer 7

They don't take out any taxes? It's very possible that what they're doing is illegal, but that doesn't let you off the hook for filing a tax return and paying the taxes due. You'll pay the IRS for federal income tax and social security and medicare. Depending on where you live you will very possibly owe state inome tax, and maybe local.

Answer 8

The IRS. File a quarterly estimate of income tax and send in the tax computed. If your state has an income tax, they will be happy to take some money off your hands the same way. HOWEVER, if you make less than about $ 11000 you are off the hook with the Feds.

Answer 9

Be sure that you have Form W-2. the employer should automatically deduct taxes from your pay. it would be advisable to get copies of your pay slip so you can see the breakdown of the salary you are getting. where do you live? i can recommend a very good tax consultant who can do your return. especially now that the year is almost over.

Answer 10

You didn't mention what you do for a living. If you're a waiter/waitress, alot of resturants take the "check" that you receive and pay it toward your taxes.

If you're not a waiter/waitress, you might be considered "self employed" and there are certain forms that you use when you file your taxes. You'll see them at your postoffice or library in January.