2007-11-21 19:37:15 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It depends, do you have a job? If you do then your supervisor from work will provide you your W2 forms and then you can do and file your taxes yourself or you can go to a tax attorney or accountant and figure your taxes out. Your parents can also claim you, so there's that.
2007-11-21 19:42:14 · answer #1 · answered by Boy, Interrupted 5 · 0⤊ 2⤋
If you don't have income, you don't have to file. If you have a job where they take out taxes and make over $5350 for the year, or make over $399 if they don't take out any taxes, then you have to file.
The forms to use depend on where your income is from. Post again here with that info, and whether or not you live with your parents, and someone can give you more info.
2007-11-22 02:08:46 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
Well now this depends on what kind of tax you are talking about.
Sales tax is obviously paid and accounted for at the register.
If you have a job, Income tax, State and Federal, will be taken out of each and every one of your paychecks automatically by your employer. It is important if you are not married and have no children to file Single, Zero as your filing status during the pay year. This will virtually guarantee you a "refund" from both State and Federal agencies at the end of the year. I wouldn't think you own a home at your age, but again, if you do, you need to pay property tax, but this can easily be rolled into your mortgage.
At the end of the year, your employer is required by law to furnish you with a "W-2" form which states your gross income from the previous year and how much you paid in taxes. You will take this along with proof of any other sources of income/ losses to someone to file your taxes (IE H and R Block). When you file, you can claim yourself as a dependant, hence why you will be getting a refund because you didn't claim yourself as a dependant all year (remember, single and zero dependants?). Or you can file yourself online at turbotax.com...very easy to use and walks you through the process. You must file your taxes every year by April 15, otherwise known as tax day, known to some as D Day.
Also, Twist, he is 18, his parents can NOT claim him as he is no longer a minor dependant.
Also, Yam, the IRS will not mail you anything automatically except an audit form (bad, bad, hopefully not). You have to request a 1040 EZ, or you can download them from the IRS website.
2007-11-21 19:48:13 · answer #3 · answered by jtht24 2 · 1⤊ 3⤋
The company you worked for will generate a piece of paper called a W2. That W2 is to be made available to you no later than the end of January 2008. You then have until April 15, 2008 to file your taxes. I suggest you visit a tax preparation service (Jackson Hewwitt, HR Block) or ask your parents to help you.
2007-11-21 19:42:19 · answer #4 · answered by Anonymous · 1⤊ 1⤋
1. Find out what is your filing status. It may be Single Dependent since your parents can claim you as dependent. If they can claim you as dependent, you don't get your personal exemption.
2. For Single dependents, you must file a return if any of the following apply.
• Your unearned income was more than $850.
• Your earned income was more than $5,350.
• Your gross income was more than the larger of: $850, or Your earned income (up to $5,050) plus $300.
3. Even if you are not required to file, you should file if you have a refund.
2007-11-21 22:17:51 · answer #5 · answered by MukatA 6 · 2⤊ 1⤋
If you have a job, your employer will ask you how you want to set up your tax information. You will decide then if you want them to take more money out for taxes now with each paycheck, or they take out less now, but you end up paying at the end of the year.
The IRS will mail you a 1040EZ form and it's VERY easy to fill out and comes with instructions.
They also have them at the libraries & post offices.
2007-11-21 19:48:33 · answer #6 · answered by Yam King 7 7 · 1⤊ 2⤋
During tax season go to the AARP website and click on their tax aide link... most cities have sites set up at local libraries that file people's taxes for free. They even E-file for you. Its a great free service staffed by certified volunteers.
2007-11-21 19:56:20 · answer #7 · answered by bymyshoes 2 · 0⤊ 2⤋
my best advice to YOU , would be to contact the IRS to get the Correct information so that You don`t`VIOLATE their Rules......it IS better to conform , rather than get a TAX BILL!
2007-11-21 20:38:31 · answer #8 · answered by nookie181 5 · 0⤊ 2⤋
Thankyou all for your replies and opinions.
2016-08-26 07:41:31 · answer #9 · answered by ? 4 · 1⤊ 0⤋