My annual really stupid tax question.....

[meegannie]

...so I don't have to file any forms if I don't meet the minimum income threshold, right? If I'm required to show tax records for the past x number of years, and I wasn't required to file for 2004 because I didn't earn enough to require me to file, could that be a problem? Or do I just say 'no income earned in 2004'?

 

[dandy]

ugh, taxes always make my head spin.

i filed for 2003 anyway, even though i was below the minimum amount--just to make sure my butt was covered. but that's canada, doesn't apply to an american living in the UK.

 

[melon]

Just to note: If you had taxes withheld from that income, you should file anyway to get your taxes back.

Also: if your employer filed an income form (W2 in U.S.; haven't a clue what that is in the UK), you should file anyway.

Melon

 

[Liesje]

what's the minimum?

 

[meegannie]

I didn't make enough last year to be taxed in the UK, so no taxes were withheld, and the US doesn't want you to attach any wage statement other than the W-2 (so I could basically just make up numbers, I guess ). I'm fine on UK taxes, but the US forms are annoying since they're little more than a formality.

I got the miminum filing requirements from the US Embassy's website (http://www.usembassy.org.uk/irs/irswho.htm ), but the IRS website says:

"If you are an unmarried dependent, you must file a tax return for 2004 if you have earned income of more than $4,850, unearned income of more than $800, or if your gross income is more than $800 and exceeds your earned income by more than $250. If part of your earned income is from tips, see Tax Topic 402, Tips .

Even if you do not have to file, you should file a federal income tax return to get money back if any of the following apply:
# You had income tax withheld from your pay.
# You qualify for the earned income credit.
# You qualify for the additional child tax credit.
Refer to Publication 501, Exemptions, Standard Deduction and Filing Information, for an explanation of the five exemption tests and filing requirement rules.

For additional information see Tax Information for Students"

http://www.irs.gov/faqs/faq2-1.html