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Old 03-23-2017, 11:05 PM
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How much does a part-time working student have to pay taxes?

Forgive me if this is a very "stupid" question to some of you; I'm very new with taxes, so I'm having trouble understanding how to calculate my taxes.

Basically, if I were to make $4000 in two months and stopped, how much of it do I have to pay in taxes? I live in Washington, so I do not have income tax, but I'm still subject to federal income tax. I just need clarification on how to calculate it. And do I also get tax returns?



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Old 03-24-2017, 03:53 PM
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Basically, if I were to make $4000 in two months and stopped, how much of it do I have to pay in taxes? =>noteveryone is required to file an income tax return each year. Generally, if your total income for the year doesn't exceed the standard deduction plus one exemption and you aren't a dependent to another taxpayer, then you don't need to file a federal tax return
unless you are a dependent of another person , you do not need to file return UNLESS your gross income is more than $10350 as single filer; There are special rules for self employment earnings and church earnings. You must file taxes if your Self employment net earnings)revenue minus expenses) are greater than $400. The filing requirement for health insurance continues this year. If you received advancements of the health insurance premium tax credit to pay for health insurance, you will need to file a tax return. Here?s how to reconcile your payments and Claim the Health Insurance Premium Tax Credit. In addition, you will also report any penalties for no health insurance on your tax return. Also If you have federal taxes withheld from your paycheck, the only way you can receive a refund when excessive amounts are withheld is if you file a tax return. For example, if you are a single taxpayer who earns $4K during the year, with $600 withheld for federal tax, then you are entitled to a refund for the entire $600 since you earned less than the standard deduction plus one exemption. The IRS does not automatically issue refunds without a tax return being filed.all taxpayers are eligible to claim a standard deduction, and if not the dependent of another taxpayer, then one exemption as well. The standard tax deduction and exemption amounts are fixed by the government before the tax filing season and generally increase for inflation each year.

You can follow step by step instructions here for more accurate result; https://www.taxact.com/tools/tax-cal...o=mktg2&gclid=


https://www.irs.gov/uac/do-i-need-to-file-a-tax-return

I live in Washington, so I do not have income tax, but I'm still subject to federal income tax. =====>Correct no state level income tax in WA

I just need clarification on how to calculate it. And do I also get tax returns?===>as mentioned above plz follow the instructions above



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