Filing a W4 tax form as a student summer worker

[SneakyStuff]

Hi all, I'm a 20 year old holding a summer job and I have some questions about filing my W4 tax form. I was under the impression that there was a W4e (exempt) form I could fill out if I was a student, summer worker, and making under a certain amount of money, but found no such thing on the IRS website. My situation is as follows...

-20 years old, so my parents claim me as a dependant for another year
-Working for a friend's dad, expecting to make $900 or less in a period of 3 weeks, then I will presumably look for another job
-A am currently a college student
-Live in the state of Maryland (if that detail is significant for any reason)

Any help or a push in the right direction would be greatly appreciated, this is the first job where I actually have control over filling out my federal and state tax forms and I would really like to do it properly so I have as much money in my pocket as possible for school. Thank you!!!

 

[Brainonska511]

I usually just put in 3-5 exemptions on the W4 form as I don't make that much on a yearly basis, so there is no point having federal income tax that I would get back taken out.

 

[SneakyStuff]

gotta be some other insight here!

 

[Dirigible]

Look at line 7 of the standard w-4.

http://www.irs.gov/pub/irs-pdf/fw4.pdf

 

[SneakyStuff]

Originally posted by: Dirigible
Look at line 7 of the standard w-4.

http://www.irs.gov/pub/irs-pdf/fw4.pdf

This is exactly what I want but I am a little unsure what constitutes tax liability, off the top of your head is there a table available that I can refer to?

 

[Dirigible]

Originally posted by: SneakyStuff

Originally posted by: Dirigible
Look at line 7 of the standard w-4.

http://www.irs.gov/pub/irs-pdf/fw4.pdf

This is exactly what I want but I am a little unsure what constitutes tax liability, off the top of your head is there a table available that I can refer to?

The tax table is on the irs web site. I think the tax table is for "taxable income" or something, so it won't tell you enough on its own. You could look at the tax form you expect to use and fill in your expected earnings, etc., to find out if you "expect to have no tax liability." That's what I'd do, at least. I'd guess you'll be filling in the 1040ez (doublecheck to be sure), which is super easy and should take about ten minutes.

I'm no tax expert, so don't have anything fancier or easier than that for you.

 

[SneakyStuff]

I just filled out exempt for both federal and state. I did so on the grounds that I am not going to file for a tax refund for 2008. Hopefully I don't get audited!

 

[Dirigible]

Originally posted by: SneakyStuff
I just filled out exempt for both federal and state. I did so on the grounds that I am not going to file for a tax refund for 2008. Hopefully I don't get audited!

If you don't file a tax return you better be completely sure you don't owe anything. Don't want to end up in FPMITAP.

 

[SneakyStuff]

NO CONGICAL VISITS!? I am pretty sure I am alright as I fit the requirement for the Maryland form where there is a specific instance for students and seasonal employees (which I am both). And as for the federal W-4 I shouldn't owe anything? Last year I was eligible to file for a tax return but didn't due to the fact that my parents claim me as a depenent. All I did at my previous job was claim myself as a dependent and that was it, I paid slightly less taxes per paycheck but never filed for a tax return in the spring.

 

[EagleKeeper]

Make sure that you do the processing for the tax year (2008). If you do not owe, then you are OK and do not have to file.