 Does the IRS charge a penalty for receiving a refund check that is too large? |
| My Mother told me that if my tax refund was too large, the IRS would charge a penalty. I have never heard of such a thing, and she had no idea what that threshold was. Any ideas?... |
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 If my mom claims me on her taxes and i file for myself and my two kids do i get more or less? |
| i usally file for myself but hard times have had me here for over half a year and my mom and i are wondering how we should do it this ... |
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 I feel i was wrongfully claimed by my mother as a dependant? |
| I ffel i was wrongfully claimed as a dependant by my mother on her taxes. I live with her, but am not in school or have not been in school for about a year now. Her claiming me as a dependent makes ... |
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 Tax money, what choice is better? |
That the money from your taxes goes to medical treatment or to the environment?
I would like your opinion =)
Thanks!... |
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 Is my accountant missing anything? |
| I am a self-employed artist. My accountant has just dropped the bomb on me that I owe the IRS $2,500 this year. Is there ANYTHING anyone might know, any little secret about a deduction I might have ... |
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 Married for 6 months, do we file our taxes separately or together? |
| we both own a home as a primary residence, but we rent one and live in the ... |
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 I live in texas and was married less than 6 months ago. Can my wife and I still file single.? |
| my wife wants to file single to receive earned income and her 2 children. If we file together we can't get much because I make so much. If we only have been married for less than 6 months can ... |
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 What percentage of the sale of a property does a property agent earn.? |
| what are cost that the property agent must take besides the advertising cost. Is there any tax or any amount they would have to pay to the ... |
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 Is the TV License a stealth tax? |
| If you own a TV you have to pay for the license regardless of how many TV channels you can pick up or how good the reception is.... |
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 Whyen do you get your money back from taxes? |
im 17 and pay taxes so will i get all my money back from paying my taxes
and when do i get the money back usually?... |
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 Can the court find out the employer and garnish wages of a non-custodial parent who owes back child support? |
| I'm asking this for a co-worker. The non-custodial parent has been unemployed for 2 years. Has worked for the last 6 months. Has not told the court, child enforcement, ex-spouse of new ... |
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 HELP Tax fraud question? |
| Me and my friend went to go get our taxes done, and our preparer put me as my friends dependent, cause she said we would get more money back, she said it was legal, but listed me as his son or ... |
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 If i buy a piece of property and knock down the house, do I still have to pay taxes on the house? |
| If i buy the property knock down the house and don't build a new house on the property for a few years do I still have to pay taxes as if the house was still there? Or do i just pay taxes on the ... |
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 I have to pay taxes on a motorcycle. Could I lie and say I paid less for lower taxes? Do they check that? |
| My taxes will run almost 650$ Could I say I paid 1-2,000 less, do they check up on it. I am form Illuinois and bought it from a dealer in Wisconsin.... |
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Jamshid O | My income $ 700 should i apply for tax return? |
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 |
 
multimastery
 |
The answer is Yes! You should no doubt file a tax return. Assuming that you generated your $700 income from a part-time/spare-time job of some sort, and you employer took out taxes -- then you should be able to qualify for earned income credit (EIC). When you make a small income, then the tax cards are stacked in your favor which enable you to more than likely get all the income tax you paid throughout the year back PLUS some EIC (Earned Income Credit) just because you're in a low tax bracket. And earned income credit could amount to several hundred dollars that you could be leaving on the table by neglecting to file. And you definitely wouldn't want to potentially leave several hundred dollars on the table right?...didn't think so. So I strongly suggest that you check into this right away.
For the small amount of income that you've earned, you should definitely not have to pay anyone to file your taxes. There are Free services to assist low-income filers. I'd suggest that you visit http://www.IRS.gov -- You'll gain a lot of useful information. (Just click on the link for 'Individual' at the top left and it will supply you and guide through various Free & practical benefits that can assist you).
And by all means be sure to pay close attn. to the link that says "Free Tax Return Preparation For You by Volunteers".
Best Wishes to you for a Prosperous Tax Year!
P.S. Here's some crucial tax advice that you need to review that particularly addresses the repercussions of not filing your taxes - http://zapurl.com/tax |
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Eric H
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No, You have to make like over 10,000 to 12,000 a year. |
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Judy1
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Did you have anything withheld for federal income tax? That would be the number in box 2 on your W-2. If there isn't anything there, then no there's no point in filing unless you have a dependent child living with you, then you might be eligible for an Earned Income Credit - if you don't have a child, you'd have to be between ages 25 and 64 to qualify for EIC.. |
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johndoe3214
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The earned income credit is going to be abolished so do not bother. Just send $10.00 c/o US Dept. of Treasury and you will be fine. This meets the requirement of the new easy tax return method for everyone whose annual income is less than one thousand dollars annually and who do not want to bother with the paperwork. |
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mchllvenning
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If you are expecting a refund..... If you have children you may get eic and child tax credit... If no child you must be over 25 years old to get eic |
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just me
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It really depends on your filing status, age and if your income is taxable income. If you are self employed you are required to file. If you received a W2 and taxes were taken out you are not required to file but would want to so you can get a refund of the taxes you paid. If the 700 was tax exempt interest you do not have to file. |
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Nikki S
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no you need to have a higher income before you can make tax claims. |
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Dragonfly
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If you have income you need to file a
tax return... you might qualify for EIC. |
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afanofnataliewood
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If you go onto the IRS website...It says that if you make under 8K a year (i'm pulling numbers out) you DON'T have to file.
Go on the website...Search for "WHO DOES NOT HAVE TO FILE?" and you'll pull up the answer. |
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lovesongangel
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yes you should not only will you get the fed tax you paid in but the gov is give each person extra money this time also look into other money that could be owed to you. Your best bet is to call the gov office and they can tell you what you need to do. |
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