I work for a sporting goods store and only make 5,000 dollars per year. Last year I had taxes taken out of my paycheck, but this year starting about in April I started getting no federal taxes taken out of my paycheck. I have recently filled out a new w4 form and it didn't change anything, I still have no federal taxes withheld. I am a full time college student and my parents can claim me as a dependent. I also have no other sources of income that could be taxed. So I guess my question is am I in for having to pay taxes at the end of the year, or do I make so little that it doesn't matter?. thanks any help would be appreciated

Tax tables were readjusted this year to reflect a change in the tax rates. Its likely your income fell below the minimum for withholding.

Does this mean that I am going to have to pay a good amount come tax time or will I come out all right?

Not necessarily. If you are unmarried and filie as a single, then its unlikely you will owe fed taxes for only $5K

I do, but I believe my parents claim me as a dependent... I still have state and othetr taxes taken out, just no federal... thanks

That your parents claim you as a dependent shouldn't affect things. You can use one of the free online tax calculators to get an estimate.

OK thank you, I added it up on there and it said that I owed around nothing, but I wasn't sure if I did it all right... thanks again