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If some one only made say $2000 during the year is it worth filing income taxes?
Say a married couple filing jointly just off one income can get back almost 6500$ with out the second lower income, should we wait for the W2 of the second spouce or just file as if the second spouce had no income?
10 Answers
- Anonymous1 decade agoFavorite Answer
Yeah don't take any short-cuts. The IRS will find out sooner or later! Below is one of my hubs that may be of some assistance to you...
"How Much Money Do You Have to Make to File Taxes?"
- 5 years ago
When and IF all of the rules are met for this purpose maybe with the 2000 of W-2 income as the qualified earned income amount around 700 to 800 of EITC amount might be possible during the 2013 tax filing season for the 2012 tax year. UI 2000 amount received would NOT be a part of the qualified EARNED income for the EITC amounts at that time. Hope that you find the above enclosed information useful. 10/08/2012
- StephenWeinsteinLv 71 decade ago
It is illegal to file jointly without reporting all income of both spouses.
The only way to file legally without including the income of the second spouse is for the first spouse to file alone with filing status "married filing separately". This is likely to result in a smaller refund than if you had filed jointly. Additionally, the second spouse may still be required to file (but can wait until April 15 to do so, even if the first spouse files earlier).
- Computer GuyLv 71 decade ago
If you want a nasty letter from the IRS, go ahead and file early. The computers will catch the missing income and you will have to file an amended return later. You could potentially be assessed penalties and/or interest for filing an incomplete return.
My advice is to wait for the other W2.
Grandpa
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- Wayne ZLv 71 decade ago
On a joint filing, if one spouse is already over the filing requirement, any additional income from the other spouse (even $1.00) must be included on the return.
It is not a question of "should" you wait for the other W2. You MUST wait for the other W2.
- Anonymous1 decade ago
You have to wait for the w2 and include the income - the IRS matches up what employers have reported to what you have filed. They are always playing catch up seeing as your w2 goes to you before the employer send the copy to the IRS - but they will catch up to you.
- AmberPLv 71 decade ago
the irs knows about that income, and 2k can make a bit of a difference in how much you pay and how much you get back, especially if you have kids. I'd say wait to file.
- Anonymous1 decade ago
You should wait for the other W-2 since you did receive income and it has to be reported on the 1040 because the IRS knows that you received it.
- travelguruetteLv 61 decade ago
Always count all the W2's. The IRS knows they are there and will ding you.