I remember there's a form for not paying income tax if you make under certain amount. Does anyone remember what form it is?

9/16/2007 11:57:42 PM

I was of the understanding that if you make below a certain amount (like $12) you didn't have to file. No forms or anything like that.

9/17/2007 9:04:26 AM

I remember there's a form you have to fill out, because I did it when I worked in highschool.

9/17/2007 9:35:29 AM

a W-4 form

9/17/2007 10:24:02 AM

http://www.irs.gov/pub/irs-pdf/fw4.pdf?portlet=3

You can declare yourself as exempt on the W-4, although I'm pretty sure this isn't what you're looking for. (cap of $850 + < $300 interest & dividends)

9/17/2007 10:47:43 AM

I think it was more like if you make under $5000 or something like that, but definitely more than $850.

9/17/2007 10:57:19 AM

my cpa said you didn't have to file.

if you wanted to, you could fill out the 1040ez, but you'd be wasting postage.

9/17/2007 9:28:53 PM

^ That's what I had always heard. I never filed.

9/17/2007 10:54:28 PM

yea, but how do i get my employer to not take money away from my paycheck for taxes?

9/17/2007 11:54:38 PM

punch him in the face

9/17/2007 11:56:06 PM

My dad is an accountant (and he does my taxes). He always did the tax forms and I got all the money back.

9/18/2007 12:09:06 AM

Quote :

"yea, but how do i get my employer to not take money away from my paycheck for taxes?"

You either mark exempt on whatever tax form it is each year (which, for those purposes, it sounds like you aren't), or you work <30hrs a week on campus as a FT student



[Edited on September 18, 2007 at 1:30 AM. Reason : dlkj]

9/18/2007 1:29:50 AM

Quote :

"yea, but how do i get my employer to not take money away from my paycheck for taxes?"

Fill out your W-4 and NC-4 forms properly.

9/18/2007 6:04:33 AM

haha yea^

9/18/2007 7:49:42 AM

even if you don't fill it out correctly, NC and federal tax is more like a loan to the government that you'll get back in april.

9/18/2007 1:43:09 PM

If you want to lend the government money you should buy t-bills. Why give them an interest free loan?

9/18/2007 2:45:35 PM

uh are you that clueless that you would ask the internet instead of your employer?

most companies have a self service website on their intranet where you can adjust your federal withholding and check on your state.

hell they should have a form handy to change that info too.

i'd ask human resources if i were you.

9/18/2007 9:43:50 PM

^will do next time i work.

9/18/2007 10:28:09 PM

sorry didn't mean to be so harsh.

9/18/2007 10:43:06 PM

^^ I answered your question like 2 days ago. You will fill out a W-4 and NC-4 forms to indicate excempt. You're not suppose to claim this status if you make over $850 but I know people who have.

When you claim the next lowest deduction amount you get pratically all of your money back (or all of it) if you don't make much money (see form).

I bet you are one of those people who pay 50 bucks for someone to fill out their 1040ez form (that takes about 3 mins to do).

[Edited on September 18, 2007 at 11:28 PM. Reason : .]

9/18/2007 11:22:38 PM

don't you still have to pay social security and crap like that, which you don't get back from typical withholdings?

9/19/2007 1:46:39 PM

social security and medicare is unfortunately something you cannot avoid. you don't get this returned either.

gotta love paying old people's social security, and we won't see jack shit from that when we retire.

[Edited on September 19, 2007 at 2:15 PM. Reason : .]

9/19/2007 2:14:51 PM