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Do students have to file tax returns?
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a tax return depends on the students filing status, age,
and gross income. Assuming the student is a U.S. citizen or resident alien, and the
student is not blind, the student must file a tax return if he/she can be claimed as a
dependent on another person's tax return, he/she had any unearned income, such as taxable
interest, dividends, capital gains, and trust distributions, and his/her total income was
more than $950. A dependent with only earned income, such as wages, tips, and salaries,
must file a tax return only if his or her gross income is more than his or her standard
tax deduction amount.
Penalties
If the student did not have enough tax withheld in
2011 he/she will not have to pay a tax penalty for 2011 if he/she did not owe tax for
2010.
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Related tax
information about student tax returns |
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Children Tax Returns
Dependent Tax Issues |
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IRS publications about student tax returns:
For more details about student tax returns see Tax
Topic
351, Who Must File;
IRS Publication
929, Tax Rules for Children and Dependents; or
IRS Publication 501, Exemptions,
Standard Deduction, and Filing Information. For additional information on the
tax penalty
for underpayment of estimated tax, see Tax
Topic
306. For information on how to increase the amount of tax withheld by your employer,
see Tax
Topic
753, Form W-4, Employee's Withholding Allowance Certificate. For information
on estimated tax requirements, see Tax
Topic
355 or
IRS Publication 505, Tax
Withholding and Estimated Tax. Also see
IRS Publication 17, Your Federal
Income Tax. |
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Ask Julian Block your IRS and tax questions! |
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If you can't find the answer to your IRS or tax question in our
web you can call former IRS Special Agent and one of the country's foremost tax attorneys, nationally syndicated columnist ("The Tax
Adviser") Julian Block. Julian is also the tax Editor of Mutual Funds Magazine, America's premier investment magazine. To
call Julian for a tax consultation click
here. |
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