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what is the maximum amount of money you can make before you have to file income tax?
my son's part time job paid him 11K, they did not take out any taxes
5 Answers
- Bostonian In MOLv 71 decade agoFavorite Answer
For a taxpayer who is claimed as a dependent on another taxpayer's return, the limit is $5,150. If he earned $11k, he's going to owe.
A rough estimate pegs his liability at about $585. If no tax was withheld, he either claimed more exemptions than he should have or he improperly claimed EXEMPT status on his Form W-4. If he's still working and expects to earn a similar amount he needs to fix that immediately.
- JudyLv 71 decade ago
Yes, he has to file if he's single.
If they didn't take out taxes, they either are showing him as an independent contractor, or he filed his W-4 as exempt. In either case, he'll owe some money. If he got a W-2, and they did take out social security and medicare, then they are NOT showing him as an independent contractor.
If he's working as an independent contractor, he'd get a 1099, not a W-2, and he is responsible for filing quarterly estimated returns to pay in the taxes he owes for what he made than quarter.
If he's not an independent contractor, and gets a W-2, he should check with his employer to be sure his W-4 is filed correctly. If he is going to have tax liability, and he will if he makes that much and is a dependent (or even if he wasn't a dependent) then he is NOT allowed to fill out his W-4 as exempt.
- 1 decade ago
He owes money. Most likely quite a bit. I make 19 a year, my income tax was 1200 (approx) I think the cut off is 3000, but I am not sure. Even if he makes less that 3000, it should be reported to get his share back. But if they didnt take anything, then he has to report and pay on the full 11000.
-Cheers
- 1 decade ago
Wow that's pretty good for a part-time job. I guess it all depends on his status at his employers. If they have him listed as an "independent contractor, and not an employee then they wouldn't have deducted taxes out of his earnings, and reported his earnings to the IRS.
Did your son get a 1099 from his employer? If he never got one, then maybe they did not report his earnings to the IRS.
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- 1 decade ago
they did not take taxes out because he is your dependent. he has to file and if he owes you will have to pay. see your tax person. but everyone that has an income has to file