DREAM Act Portal Forum - Filing Individual Income Tax Returns FAQ.

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Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by sara-j (Post 427449)

Thank you for your reply, msaccountant!

I'm considering doing my taxes online via TurboTax, since it should be a simple return, so I'm assuming from your information that I'll be able to file without updating at a social security office first?

I do not qualify for the EIC, as I'm only 21 years old, and I don't think I quality for American Opportunity either because my attendance in 2012 was less than half-time.

Another question--I found out that I'm not required to file a state tax return in CA because I'm single and only made $10.5k with no dependents. No one can claim me as a dependent either, because of my age and the fact that I was not a full-time student during 2012. Also, boxes 15-17 on my W-2 are left blank, assumably because I work and live in CA, but the office is in another state. Would there be any benefits to filing a state tax return?

No problem that's what we're here for!

Oh okay then go ahead if you feel comfortable. :) I'm sure it is a pretty basic return so good luck! Ah I see well then yes go ahead and claim Lifetime Credit.

Well then if you're not required then you don't have to but it really doesn't hurt to go ahead and do it. :) I want to say you might see a refund but you just said those boxes are empty.

Quote:

Originally Posted by lilz07 (Post 427451)

How far back can we amend taxes and what exactly does this mean??? Can we do it now in tax season or can it be done any time during the year??

To amend a return is to make changes/include information that either you simply forgot to include, you have an SSN now, or IRS has sent you correspondence letting you know something was incorrect and/or missing.

You can go as far back as you'd like or as far back as the IRS tells you you need to amend.

You may do it at any time but I strongly recommend that if you believe you could've qualified for EIC back in 2009 then get that return amended before April 15th since that's the last chance you have to claim it and receive a refund.

Re: Filing Individual Income Tax Returns FAQ.

*Generally speaking*, you generally must file an amended return within three years of the date you filed the original return or within two years after the date you paid the tax, whichever is later.

Also, amended returns must be mailed. The IRS does not accept amended returns that are e-filed.

Re: Filing Individual Income Tax Returns FAQ.

IRS has now started to process returns that include Education credits!

Re: Filing Individual Income Tax Returns FAQ.

Ok guys i need help. For the past 3 years I've done my taxes through turbo tax and i always got refund. This year however i owe 600, i still haven't efiled because i was hoping someone woulda tell me i did something wrong. This is the info: I made 22k and had 850 withheld. The difference between this year and the past is that i didn't go to school so can't caim that credit. Im 25 with no dependents, can u think of something i can claim. eic? Also, like many others here i worked with fake ssn and now have my real one. Do i file with the new one? Itin? Thank you.

Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by juvi (Post 435803)

Hey.

You see what's affecting you is the fact that they only withheld 850. On the w4 for that w2 how many exemptions did you claim?

Also, you will not be able to claim EIC because your AGI will be higher than the maximum amount (around $14,000) one should make with no dependents.

You could always get a second opinion from somewhere else. :) Good luck! I recommend that if you still work at that job then make changes to your w4 and claim 0 exemptions.

Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by msaccountant (Post 435998)

This is what I feared. Thank you. Im starting a new job and I'm putting down 2 exemptions.

Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by juvi (Post 436417)

This is what I feared. Thank you. Im starting a new job and I'm putting down 2 exemptions.

No problem!

Oh well if you put down 2 exemptions you are aware they will withhold less?

Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by msaccountant (Post 436444)

No problem!

Oh well if you put down 2 exemptions you are aware they will withhold less?

And the risk of you owing come income tax season is greatly higher.

Re: Filing Individual Income Tax Returns FAQ.

Quote:

Originally Posted by circasurvive (Post 436739)

And the risk of you owing come income tax season is greatly higher.

^This.

Re: Filing Individual Income Tax Returns FAQ.

My very first tax refund (with included education credit) is approved by IRS and should be in my bank account within the next few days! Thanks msaccountant!