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There are no special tax rules for minors.
Whether the minor needs to file federal taxes depends on the source of the income (earned?, unearned?, self-employment?) and whether the minor can be claimed as a dependent on someone else's tax return (like his parents). I presume the minor is not married, but in some states a minor can marry.
See Tables 1, 2, and 3 on pages 2, 3, and 4 of Publication 501 to determine if you are required to file a federal return:
http://www.irs.gov/pub/irs-pdf/p501.pdf
State tax rules vary by state. In some states, the minimum income can be quite small, like Pennsylvania where it is just $33.
What else can I help you with?
Do you withhold federal taxes for minors?
All taxes should be withheld on earned wages. If a minor has less than the standard deduction in UNEARNED income then they will not pay any Federal Tax... the state and local taxes depend on the state and locality.
If a minor owes less than 500 dollars for income tax do they have to pay?
If a minor has any income tax liability the minor would be required to file a income tax return. When you are a dependent on another individual income tax return and you have 950 or more of unearned income you are required to file a federal income tax return.
Signatures for a minor child who files a tax return?
Minor children should sign their own tax return. If a child cannot sign his or her return, a parent or guardian can sign the child's name in the space provided at the bottom of the tax return followed by "By (signature), parent (or guardian) for minor child."
Do minors sign 1040 tax form?
If they are old enough to write and understand what they are doing, they can sign their own return. If not, the parent should sign the parent's name and write underneath it "as parent of minor child."
What can you do with a minor in finance or accounting?
If you use a Wachington Mutual bank, you may be able to open an account in their name. But, here's the catch. An adult can only take out money from the minor's account. Wow, that's not the kind of "minor" the asker was referring to. -______-
Can a minor be charged with a federal crime?
Yes, a minor can be charged with a federal crime if they commit a serious offense that falls under federal jurisdiction. Minors can be prosecuted in federal court, but the process and penalties may differ from those for adults.
Can a minor go to federal prison as a 17 year old?
Yes, a 17-year-old can be tried as an adult in federal court and if convicted, can be sentenced to federal prison. The decision to try a minor as an adult is typically based on the severity of the crime and the minor's criminal history.
Can a minor be charged with a federal crime by robbing a bank?
Yes.
What is the punishment for selling a gun to a minor?
Federal prison time, fine.
If a minor earns income does she have to report the income to the I R S?
Yes and if any federal income tax was withheld from the earned income the minor could possibly receive a refund of some of the withheld FIT amount IF the minor files a federal 1040 income tax return and it is completed and filled out correctly and signed by the minor.
Do you withhold federal taxes for minors?
All taxes should be withheld on earned wages. If a minor has less than the standard deduction in UNEARNED income then they will not pay any Federal Tax... the state and local taxes depend on the state and locality.
What is Wisconsin's law about transporting a minor across state lines?
Taking a minor across state lines without the permission of a parent or guardian is a federal crime. Wisconsin's laws cannot supersede the federal law.
What would happen if a minor ran away to a different state and stayed with an adult?
The minor will be returned home and the adult will be facing federal charges for taking them in (because once you cross state lines, it becomes a federal issue).
What conditions must be met before a minor receives a license?
Depends on the state. There is no overarching federal law.Depends on the state. There is no overarching federal law.
If on federal probation how many minor violations can you have before getting sent back to prison.?
Only your federal PO and the judge know the answer to this question.
What should you minor in?
art
Should a 16year old been charged as an adult if commit crime?
It is up to the prosecutor to determine how to charge them. They weigh the factors and the record of the minor when making their determination.
