who fills out the yearly personal income tax return in the usa?
most high school people i've spoken to don't fill out any tax forms at all even though they work part time at mcdonalds etc. if u don't fill out a tax return does the irs just do it for you?
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If your parents claim you as a dependent then they may be filing for you in which case you're covered. My father freaked out one year because I filed a 1040EZ to get my small amount of taxes back when he had already filed his claiming me as a dependent. We didn't do a Geitner or anything.
These days with the government barfing money at low income earners it would make sense to file and get whatever refundable tax credits exist for high school students living at home
If you live in the US and earned money in any way whatsoever, either you, your parent, or your spouse must file a tax return accounting for that income. No matter what. With no exceptions.
Yeah, the IRS isn't something to screw with. They do what they want and have to answer to pretty much nobody.
If you live in the US and earned money in any way whatsoever, either you, your parent, or your spouse must file a tax return accounting for that income. No matter what. With no exceptions.
If you are an American citizen living outside of the US and pay taxes according to local tax laws where you live and the place you live has a tax treaty with the US and you don't earn over a low threshold, you do not need to pay US tax, but even then, you still need to file a return.
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If you're in a high position in the U.S. Government, apparently you're exempt from paying certain taxes until you get caught.
And you're also exempt from international law (and moral values, where law doesn't apply) with regard to torture, and exempt from constitutional restrictions on illegal search and seizure (illegal wiretapping), illegal detainment (they're not POWs, they're "enemy combatants!") and many many other things.
If you are an American citizen living outside of the US and pay taxes according to local tax laws where you live and the place you live has a tax treaty with the US and you don't earn over a low threshold, you do not need to pay US tax, but even then, you still need to file a return.
Be careful, this might have just changed with the HEART act. They changed a lot of stuff - one things is that now you now longer have to file taxes for 10 years when you renounce your citizenship, instead you have to pay all your capital gains at one time (with a $600K exclusion). But there is some new form I think, and if you don't file it you go to jail (I have a vague memory of that, anyway).
If you're stinking rich you can offshore your income to a Cayman Islands account and you'll get away with not paying taxes, but you still have to file.
Apparently not anymore.
Seriously I haven't paid US taxes in 10 years. The tax law is if you make over 75,000 a year in a foreign country you have to pay taxes of the difference. Hah, screw that, I make 3 times that amount and already have to pay taxes to the Swiss government. The day the IRS comes after me is the day I throw the US passport away. In fact not to sound to left, but is that such a bad thing nowadays. Scratch that I shouldn't have said it.
That is a felony, I think, and throwing your passport away will not help you. If I were you, I would file my back tax returns - you will get a tax credit for your swiss taxes + 75K credit, if I am correct. I doubt that you would owe taxes, since swiss taxes are most likely higher than us taxes.
And consult a pro on this.
That is a felony, I think, and throwing your passport away will not help you. If I were you, I would file my back tax returns - you will get a tax credit for your swiss taxes + 75K credit, if I am correct. I doubt that you would owe taxes, since swiss taxes are most likely higher than us taxes.
And consult a pro on this.
Yeah I know I should consult a tax attorney, my dad is constantly on me about it. It's been ten years I'm afraid to even walk into the consulate with my tax papers. Even funnier I was in the Navy before I left the U.S. and had always filed. Besides the yearly trips to California I have pretty much gone off grid. I now have the Swiss passport and if it wasn't for the ridiculous line at customs I would enter the U.S. as a foreigner.
I'm going to hell.