Is there a limit of how much money you need to make to file taxes or what if you only worked 1 month out of the year is it still required???
2007-11-20 09:45:25 · 10 answers · asked by star 2 in Business & Finance ➔ Taxes ➔ United States
The only people who have answered even remotely close to correct are wayne and raf. If you earn over $8450 and are single and are not claimed by someone then you are required to file. If you made less than that you would want to file to get back what you had withheld. Since taxes at the state level vary from state to state you my get back all, part, owe or not have to file depending on you state. If someone claims you, you may still get back all or part depending on how much you made. Yes if you are self employed and Make over $400 you do need to file but this is to give you credit for SS even if you wind up not paying any tax.
2007-11-20 10:32:37 · answer #1 · answered by BigDog507 5 · 2⤊ 1⤋
Income tax filing requirements are based on total income. It does not matter if you earn the income in 1 HOUR or 1 YEAR. If you only worked 1 month, there is a decent chance you did not make enough to be required to file, but you did not give enough information to know. If your income was below the amount that requires filing, you are probably entitled to a refund of any income tax withheld. You can only claim a refund if you file.
2007-11-20 11:51:52 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
The need to file income taxes depends on the dollar amount earned, not the time worked. You could earn $1500 from a part time job throughout the year and not need to file; or earn $75,000 from a one week part as an actor and need to file.
Social Security is different, as earnings are based on QUARTERS worked in. If you work in one month, you only pay Social Security in the one quarter that you worked. (You would not need to pay for the second quarter (April, May, June) if you worked only in August. :)
2007-11-20 09:58:51 · answer #3 · answered by Raf 5 · 2⤊ 0⤋
The limit is the amount of money you made, not how long you worked. If you made over $399 from self-employment, you have to file. If you are single and a dependent, the limit is $5350. If you are single and not a dependent, it's $8750. There are other limits for other filing statuses.
2007-11-20 14:04:59 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Do you want to get your tax withhldings back? You might even get some Earned Income Credit if you qualify. Then file your taxes. Do not forget your state taxes as well.
2007-11-22 01:13:17 · answer #5 · answered by Gary 5 · 0⤊ 0⤋
As long as you worked legally, you will have to pay taxes. If you didn't make much money you will probably qualify for a credit and end up getting a refund, but it depends on a lot of variables. You should try the program Turbo Tax if you are intimidated by IRS forms. The main reason you have to file is because your employer will report your earnings to the federal and state governments, so if you don't file they will come looking for you.
2007-11-20 09:52:07 · answer #6 · answered by Andrew E 3 · 0⤊ 5⤋
If you were paid on the clock and by check and some deductions were taken out YES. Cash, under the table, it would be best to file with 0 income. But if you made a little you will get a refund, even if you did not pay much in.
2007-11-20 09:54:12 · answer #7 · answered by Lyn B 6 · 0⤊ 3⤋
If you were an employee and no one else claims you, you have to file if you made over $8750. I you had taxes withheld, I would file anyway to get back the money.
If you were self-employed, you have to file if you made over $400.00.
2007-11-20 09:54:56 · answer #8 · answered by Wayne Z 7 · 2⤊ 0⤋
I do believe that if you made over $600 in wages/tips you have to file taxes.
2007-11-20 09:52:59 · answer #9 · answered by ganzhimself 4 · 0⤊ 5⤋
yes mam! it's our silly government wanting to take over like always!
2007-11-20 09:54:11 · answer #10 · answered by mommie dog 1 · 0⤊ 3⤋