Do I need to file taxes?

I didn't make any money in 2001, so do I need to bother telling the IRS?

 

I know I don't do my taxes when I don't make money, but I'm in Canada. Should be easy enough to find out. Just call them.

 

If you but double pack pringles I hear you get a 20 dollar refund form the IRS.

You should probably file anyways, the IRS gets itchy when they discover money they can't get at.

 

But they wouldn't discover money they can get at. I had no job. I made no money. I did, however go to school. Maybe I could just say that, and get some money from them. Of course, my mom will probably claim me on her taxes, so I'd be screwed anyway.

 

Just say your dog ate them.

 

Too bad I don't have a dog, but if I did, I'd love it if he ate the IRS.

 

As I understand, you never have to file if your income is below the standard deduction.

 

You don't need to file if you didn't make any money. You don't need to file if you made under a ceratin amount of money (I forgot what exactely it is. A couple of thousand). The only reason you'd want to file if you're under this amount is if you want to get the money that your company witheld back.

 

Ok, cool, thanks. Now I just have to worry about finding a job so I can make some money this year.

 

I think I qualify as poverty level this year.

WOO HOO!

 

Well, I made no money, and spent like 10 grand, so I think that should count as some sort of poverty or something.

 

If I have to pay anything this year, it's just wrong. I don't make enough. I need some deductions.

 

Same with me. I sure hope I didn't make enough to pay anything or that I can deduct enough. I've paid enough college expenses for sure. (Watch those loan numbers go up now!)

Now I just have to figure out what will get the better deal, me claiming me as a dependent or my mom claiming me....(It's really complicated)

 

Hopefully I'll get about $1500 back this year.

 

I think you still need to "file" with them that you didn't make any money that year, though. I could be wrong.

 

read yourself a copy of the 1040EZ instructions online, irs.com, and find out.

 

Hey, that's a good idea, thanks.

 

It's actually irs.gov, but I found what I was looking for.

If you are an individual who may be claimed as a dependent on another person's return and you are single and under age 65, you must file a return if any of the following circumstances apply: first, your unearned income was more than $700. Unearned income includes taxable interest, dividends, capital gains, and trust distributions. If you had an investment loss, your unearned income could be a negative amount. Second, your earned income was more than $4,400. Earned income includes wages, tips, taxable scholarship and fellowship grants, and salaries. Third, your total income was more than the larger of $700 or your earned income (up to $4,150) plus $250. If you file Form 1040EZ, Income Tax Return for Single and Joint Filers With No Dependents, your total income is the same as your adjusted gross income. If you are 65 or older, or married, refer to the instructions in your tax package or Publication 929, Tax Rules for Children and Dependents, or Publication 501, Exemptions, Standard Deduction, and Filing Information.

 

I dont have to file but I paid over $400 this year, and I only made like 3500, so im totally exempt cause im in school...ching ching for me.

When that 400 comes, im going to Whistler.

 

I avoid my income tax,... because I'm under 18.

 

I doubt I'll need to pay any taxes this year....BUT, since my boss has been doing that anyways, hopefully I'll get a small check back.

 

DO make sure that you follow the guidelines on whether or not you have to file for a particular year and don't forget any side sources of income, such as interest on accounts.

I made the mistake when I was 18 thinking I was under the amount necessary to file. The IRS didn't bother to check into that until I was 24 or so. By then, the penalities and interest due to them made what would've been a pittance back in '92 seem like a pretty hefty chunk of change in '98.

When it comes to the IRS, it's better to be safe than sorry.

 

Don't worry about not filing taxes. There's plenty of folks who don't. You can talk with them in jail. They've got nothing better to do with their time.

 

Death and taxes...

 

If you don't get a W-2 form, then it's kind of impossible to file taxes.