Do I have to pay income tax if I'm 15, a dependent, and make under $10,000 a year?

Question

I will make probably under $5,000 this year. I'm 15 and a dependent of my mom. When I file taxes next year, will I receive back everything that has been deducted from my paychecks?

Answer 1

most likely yes, but not the fica tax.

Answer 2

Whenever you have earned income, you must pay taxes on it no matter how old you are or how much you earn. If you mother claims you on her income tax return as a dependent, that means that you will NOT get to claim an exemption for yourself on your return, This means that there is arount $3,500 which you will NOT get to subtract off of the income you made.But you will get to subtract from your income what is called the standard deduction. If your income is lower than whatever the standard deduction is, then you will not have any taxable income and therefore no tax liability. This should result in you getting everthing that was witheld in in Federal taxes.  If your income was higher than your standard deduction, then you will have some tax liability and depending upon what was taken out, you will get the difference in that and your tax liability amount. I hope this answers your question and helps you out.

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Answer 3

You might have to file a return, or your mom might need to include your income on her taxes.  You are right to think you might not owe anything.  Where you go wrong is to think you don't have to tell the IRS about the money even though they cannot tax it.

Answer 4

If you make less than $5k in wages and have less than $300 in unearned income you should get any Federal income tax withheld back.  However if you make $10k there's a STRONG chance that you'll have a tax DEBT to pay next year unless you pegged your withholding allowances at 0.  Even if you claim 0 you'll only get a small amount of the withheld income tax back.

Answer 5

your total tax liability should be less than $200 (tops).

so you may not get every penny back, but you'll get most of it.

except for things like Medicare and social security - you will never get that money back.     ever.

Answer 6

Under $10,000 yes, under $5000 no, for federal.  The limit for 2008 is $5450.  State limits in some states are lower.

Answer 7

Yes, you must file you tax return and pay income tax if your income exceeds the filing limit. Read this

http://taxipay.blogspot.com/2008/02/fili...