Someone said I could have received $1,000 extra money along with full federal / state refund if i had filed the tax return with my dependents( minors )'s names on. Is that true?
2007-12-04 07:08:24 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Claiming your dependents will lower your taxable income so you will pay substantially less taxes. Last year the deduction was $3200 for each dependent. You would also be entitled to a larger standard deduction based on being head of household. In addition depending on your income you might be qualified to received earned income credit. Last year this amount was a maximum of $2662 for one child and $4400 for 2 or more children.
You can ammend your tax returns for years 2004,2005, and 2006 using form 1040X. 2004 must be ammended by 4-15-2008.
2007-12-04 07:52:44 · answer #1 · answered by joker_32605 7 · 3⤊ 2⤋
If you have dependents, then your taxes are usually lower, so your refund is most likely higher. You have to put their names and social security numbers on your tax return, and they are verified.
When you say "a full federal/state refund are you saying get back everything you've paid in? Maybe, but that depends on your total income.
If you give more info - your total income and how much was withheld, ages of these dependents and how they are related to you and whether they lived with you that year and if so how long, someone can give you a better answer. Would also need your marital status, whether your spouse has income and how much, and whether anyone else can or did claim these dependents.
Also, what year are you talking about? You say "if I HAD filed..." so it sounds like you are talking about prior years. You filed, had legitimate dependents whom nobody else could claim, and didn't mention them on your return? Why not? If that's the case, you can file an amended return.
2007-12-04 07:22:10 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
It depends. Did your minors or someone else file their own/for them their taxes AND claim themselves as deductions? If not, you still have the ability to ammend your taxes and get the refund you missed. Good luck.
2007-12-04 07:25:10 · answer #3 · answered by mylilbubbers 5 · 0⤊ 0⤋
Without knowing your full circumstances it is impossible to tell if you would have received a larger refund. That being said, it is generally to your benefit to claim all dependents who you are legally entitled to claim.
You should look at the IRS website to check the requirements to be a qualifying child or qualifying relative. If your children meet those requirements, you can amend your return.
2007-12-04 07:32:23 · answer #4 · answered by taxreff 7 · 1⤊ 1⤋
well yeah, but no one else can claim them. only one person can claim them as dependents. you have to have their SS#
2007-12-04 07:15:43 · answer #5 · answered by atti_cat 4 · 2⤊ 0⤋
what are you dumb or something. Claiming false dependents WILL LAND YOU IN JAIL.
2007-12-04 07:17:59 · answer #6 · answered by Anonymous · 0⤊ 3⤋