Okay so ive been at my job for about months. I got my taxs form w2 thing online.. WHAT DO I DO WITH IT? im 17 ive never had a job before this and ive never done taxes?? can someone please tell me in every detail what i am sposed to do?
No related posts.
15. January 2010 at 10:49 pm
I’m assuming here that you aren’t married, and don’t have a child.
If your total income is not over $5150, and you didn’t have any unearned income (that’s income not from your job), and your W-2 box 2 doesn’t show any federal income tax withheld, then you don’t have to do anything, you didn’t make enough to have to file, and don’t have any refund coming, so there’s no reason to file.
If you made over $5150, or had unearned income, or had federal income tax withheld:
(1) Do your parents claim you as a dependent? If you’re 17, they probably can and do – you need to ask them that.
(2) Download form 1040-EZ at irs.gov, or pick up a copy at your local post office or library. Fill out the form one line at a time, following the directions – you can do it, it’s not real complicated. When you get to line 5, if your parents claim you as a dependent, check the “you” box and fill out the worksheet on the back and enter than number on line 5. Then fill out the rest of the form.
Depending on where you live, you might also have to file a state return.
Don’t waste your money paying somebody to do the return for you – yours is pretty simple.
If you have any trouble with it, feel free to email me.
15. January 2010 at 10:49 pm
First, you need to determine if your parents are claiming you as a dependent. This is a big deal and will affect your return if you are being claimed on someone else’s taxes.
If no one can claim you as a dependent, you can file your own taxes. You can pick up a 1040EZ form at a library or post office. You can also try one of the tax prep software programs. The basic edition runs $15-$20. You will most likely also qualify to efile for free on the IRS website. You will get your refund a lot faster if you efile.
Before you file, make sure you have ALL the documentation. Employers are not required to mail W2s until the end of January. If you had more than one job, you might need to wait for additional W2s. If you earned any interest on a savings account, you will need to wait for the bank statement.
15. January 2010 at 10:49 pm
You can always get the assistance of an accountant. Try HR block, though doing your taxes will be pretty straightforward; you’re a first timer so get someone experienced to do your taxes for you. Not grandma nor grandpa, unless they are accountants.
15. January 2010 at 10:49 pm
Pick up 1040EZ fill it out according to instructions. The deadline is April 15, but you should do it sooner. You probably have money coming back. If you are simply overwhelmed, take to someone like H & R Block. It will cost you something. Before that, though ask a responsible adult that you can trust to help you. Father, mother, big brother or sister, for example.
15. January 2010 at 10:49 pm
Go to post office. Pick up form 1040EZ. Follow instructions. Very simple if your only income is 4 months work.