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You do not owe income tax on a yearly income of $2,386 however you should file an income tax return anyway. It should be fairly easy to fill out; almost all of the questions won't apply to you. Just follow the instructions on the form. You may receive a refund.
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If you have NO income must you file a federal tax form?
where do I file my federal tax form? I live in Montana and owe no money.
Which of thr following is considered a tax credit which will directly reduce the taxes you owe?
Earned income credit
Do you owe taxes if no federal was taken out?
This is possible but you will not know until you have completed your income tax return correctly.
Why would you owe taxes?
As far as federal taxes owed for earning a wage in the United States; anyone who has made over $8000.00 on a tax year has to file a tax return an in most cases will owe taxes to the government.Earning wages will cause you to owe taxes.
What is the earned income tax credit for tax year 2009?
The earned income credit (EIC) is a tax credit for certain people who work and have earned income under $48,279. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also give you a refund.Go to the IRS gov website and use the search box for Publication 596 (2009), Earned Income Credit (EIC)
If you have NO income must you file a federal tax form?
where do I file my federal tax form? I live in Montana and owe no money.
If you owe nothing do you get all federal and state income tax back?
If you really owe nothing, then yes you will get it all back, but only if you file a tax return. Some people who qualify for special tax credits like the Earned Income Credit or the Additional Child Tax Credit might even get back more than they paid.
No longer on Social Security but owe can your income tax be garnished?
Yes. If you owe the federal government money, the Department of the Treasury can withhold your income tax refund to satisfy the debt.
Which of thr following is considered a tax credit which will directly reduce the taxes you owe?
Earned income credit
The Earned Income Tax Credit is offered at which government level?
federal
A family is in the 15 percent federal tax bracket if the family annual income is 62500 how much tax does it owe to the federal government?
you multiply .15 by 62,500 it equal 9,375
How can your federal tax return be taken from you?
Govt or state agencies have the power to offset if you owe them money.
What is a federal income tax?
A Federal income tax table is a chart that lays out the tax rates for different levels of income. It is designed to help US taxpayers determine how much they will owe in taxes in a given year.
A federal income tax is?
A Federal income tax table is a chart that lays out the tax rates for different levels of income. It is designed to help US taxpayers determine how much they will owe in taxes in a given year.
What is the point of a federal tax estimator?
A federal tax estimator calculates the amount of tax a person will owe at the end of the year. If you have had to pay taxes in previous years, using a federal tax estimator can help you plan ahead and help you make proper pay check withholdings.
What will be the end result for the taxpayer who filed his federal income tax return using the 1040EZ form shown below?
he will owe $135
If you are a teen earned 223.00 in 2009 and paid no federal income tax do you have to file federal income tax for 2009?
If you do not have any other income other than the 223 earned income and no federal income taxes were withheld and you are a dependent on another taxpayers income tax return you would not have any reason to file a income tax return for the tax year 2009.
