What amount do I have to earn in order to file a tax return?

[Antoneo]

I do a light part time job and my paychecks indicate the amount of "withheld taxes" by the employer but I was wondering about the topic question...

 

[Ylen13]

I am not tax expert in anyway shape or form. If u are making over 6000 u should file. I think that have to file when u make over 7500 but if u file at 6000 u will get some money back. Again I am not an expert just saying what I was told by other people. Hopefully a user "cpa" will respond and will let u know for sure what the correct number.

 

[MacBaine]

Elevendy-Jillion dollars!

 

[Antoneo]

Originally posted by: Ylen13
I am not tax expert in anyway shape or form. If u are making over 6000 u should file. I think that have to file when u make over 7500 but if u file at 6000 u will get some money back. Again I am not an expert just saying what I was told by other people. Hopefully a user "cpa" will respond and will let u know for sure what the correct number.

Oh good, I am making no where close to 6000 a year, hence a "light" part time job. Sucks to be a poor college student though...

Thanks for the reply!

 

[BrunoPuntzJones]

$7700 if you're under 65 and single

 

[IcemanJer]

I'm pretty sure if you make money and get a W-2 form from your employer, you have to file a tax return. I, as well, earn nowhere close to $6000 a year (I'm a student), but I had to file a tax return for the past 2 years.

 

[Antoneo]

Originally posted by: IcemanJer
I'm pretty sure if you make money and get a W-2 form from your employer, you have to file a tax return. I, as well, earn nowhere close to $6000 a year (I'm a student), but I had to file a tax return for the past 2 years.

Doh, I got a w-2 form from my employer a couple of days ago...hrmmm

 

[BrunoPuntzJones]

You don't have to file...

Read page 17

 

[flot]

Well, if they're withholding taxes and you DON'T file, the govt gets to keep your money.

If they're withholding and you DO file, if you make less than about $7000 you will get ALL of that withheld money back.

Do the math. File your taxes.

 

[FoBoT]

Originally posted by: flot
Well, if they're withholding taxes and you DON'T file, the govt gets to keep your money.

If they're withholding and you DO file, if you make less than about $7000 you will get ALL of that withheld money back.

Do the math. File your taxes.

the penalty for not filing is a percentage of what you owe, so if they owe you money and you don't file, your penalty is $0 (but you don't get your money back, so it is obviously in your best interest to file )

 

[Antoneo]

Alrighty thanks guys, this is the first time I had to do this since its my first paying job.