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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29933
Experience:  Taxes, Immigration, Labor Relations
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I recently just finished a summer job. I'm single and a

Customer Question

Hi! I recently just finished a summer job. I'm single and a dependent and made less than $3000 during the period I was working. However, I have a job in college that paid at least $300-$400 a month before that. Last year I had a right to a tax refund and had no tax liability nor will I for this year, so for this summer job I selected to be exempt from withholding. I just wanted to check to make sure that I really did meet the requirements to be exempt from withholding because I believed that if I made less that $5000, was single, a dependent, and had a right to a tax refund last year with no tax liability then I was okay to be exempt from withholding. I'm just worried that I'm going to get a huge tax bill next year for being exempt from withholding.
Submitted: 2 years ago.
Category: Tax
Expert:  Lev replied 2 years ago.

As you are a dependent - your filing requirements and income tax liability woudl start from the income threshold $6300 for 2015.
Assuming your all income is from wages and if the TOTAL amount is less than $6300 - you are not required to file and do not have any tax liability.
However - you MIGHT want to file if there were any income tax withholding - so you would claim a refund.
If by the chance - your income woudl be above that threshold - your federal income tax liability woudl be based on that amount above $6300.
For instance - if your total income woudl be $6500 - you will be required to file - your taxable income would be $200 - and your estimated tax liability $20 minus whatever income tax were withheld from your paychecks.

Let me know if any clarification needed.