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    bittersweet93's Avatar
    bittersweet93 Posts: 18, Reputation: 1
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    #1

    Aug 6, 2012, 12:36 AM
    Taxes help!
    All right so I'm 19 single and live with my parents. I started working about 3 monthhs ago at a university and on my taxes she put exempt from taxes she thought id make a little money so I thought OK cool cause I don't know anythng about taxes but I added up my checks it came up to be 2,040 and I'm lik UH?? What should I do ? I don't want problems with the IRS and I'm stressed can someone help me with what do to , what can I do , if paying taxes still doesn't apply to me I'm super worried.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #2

    Aug 6, 2012, 01:35 AM
    I'm not sure why she did that if you aren't a student just working for the summer, so go back and tell her you want a W4 to fill out and claim one exemption, yourself. That will start deductions going on future paychecks. It should all work out OK in the end, when you file your tax return. The IRS doesn't concern themselves with when changes were made to exemption status.
    bittersweet93's Avatar
    bittersweet93 Posts: 18, Reputation: 1
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    #3

    Aug 6, 2012, 03:10 AM
    Hi thank you for your help buuuut I am a college student. I just decided to work in the summer, does that change things?
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #4

    Aug 6, 2012, 04:50 AM
    Then she knows what she's talking about. BUT often it's better financially if your parents claim you, which they can while you are a FULL TIME student under 24. You might want to discuss this with them, but you don't have to (you could split the savings they get). There are other factors.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #5

    Aug 6, 2012, 05:08 AM
    If you are in college it wouldn't be a bad idea to get an income tax return package and play around with the calculations so as to get a rough idea how taxes work.

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