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    curlykris's Avatar
    curlykris Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 5, 2008, 10:48 AM
    No taxes taken out all year
    I claimed to many dependents and had no taxes taken out all year, I am a single mom of one and normally get EITC now I am afraid that I will have to owe, or will I still get a refund.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #2

    Jan 5, 2008, 11:14 AM
    Try TurboTax online and put in your info and see if you get anything back. I think they only charge if you actually go through with the filing. I've used them for years and they answered my tax info on the money.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jan 5, 2008, 10:37 PM
    How much did you make in 2007 and how many kids do you have?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #4

    Jan 6, 2008, 12:01 AM
    You are head of household and with one dependent, your total exemptions are $14,650. Then you will get $1,000 of child tax credit. EIC limit for head of household, with one child is $32,001.
    So as a rough estimate, you will not owe any tax if your income is up to $27,000.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #5

    Jan 6, 2008, 10:53 AM
    Agreed.
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
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    #6

    Jan 6, 2008, 11:41 AM
    If you only have one child, why did you claim so many dependents? Whether you'll owe depends on whether your deductions will exceed your taxable income. If so, then you're off the hook. If not, then you'll owe. How have things panned out for you in past years? Have you owed or received a refund, with or without wage withholdings?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #7

    Jan 6, 2008, 02:37 PM
    The best way to go money management-wise is to PAY $1,000 come 15 April 2008.

    ANY refund is an interest-free loan to the U.S. government.
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