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Personal Tax FAQ

For head of household filing status, do you have to claim a child as a dependent to qualify?

August 22, 2014 by Roy Vargis CPA CMA CFM EA CITA ACMA CGMA Leave a Comment

In certain circumstances, you do not need to claim the child as a dependent to qualify for head of household filing status, such as when the qualifying child is unmarried and is your child, grandchild, stepchild, or adopted child. … [Read more...] about For head of household filing status, do you have to claim a child as a dependent to qualify?

Can I receive a tax refund if I am currently in a payment plan for prior year’s federal taxes?

August 22, 2014 by Roy Vargis CPA CMA CFM EA CITA ACMA CGMA Leave a Comment

As a condition of your agreement, any refund due to you in a future year will be applied against the amount you owe. Continue making your installment agreement payments as scheduled because your refund is not considered as a substitute for your regular payment due. You may not get all of your refund if you owe certain past-due amounts, such as federal tax, state tax, a … [Read more...] about Can I receive a tax refund if I am currently in a payment plan for prior year’s federal taxes?

If I claim my daughter as a dependent because she is a full-time college student, can she claim herself as a dependent when she files her return?

August 22, 2014 by Roy Vargis CPA CMA CFM EA CITA ACMA CGMA Leave a Comment

If you claim your daughter as a dependent on your income tax return, she cannot claim herself on her income tax return. If an individual is filing his or her own tax return, and the individual can be claimed as a dependent on someone else's return, the individual cannot claim his or her own personal exemption. In this case, your daughter should check the box on her return … [Read more...] about If I claim my daughter as a dependent because she is a full-time college student, can she claim herself as a dependent when she files her return?

How much does an unmarried dependent student have to make before he or she has to file an income tax return?

August 22, 2014 by Roy Vargis CPA CMA CFM EA CITA ACMA CGMA Leave a Comment

You must file a return if any of the following apply. Your unearned income was more than $950. Your earned income was more than $5,700. Your gross income was more than the larger of — $950, or Your earned income (up to $5,400) plus $300. … [Read more...] about How much does an unmarried dependent student have to make before he or she has to file an income tax return?

Is there an age limit on claiming my children as dependents?

August 22, 2014 by Roy Vargis CPA CMA CFM EA CITA ACMA CGMA Leave a Comment

Age is a factor in the qualifying child test, but a qualifying relative can be any age. As long as the following dependency exemption tests are met, you may claim him or her: Qualifying child  ( 13 years) or qualifying relative test Dependent taxpayer test Citizenship or resident test Joint return test … [Read more...] about Is there an age limit on claiming my children as dependents?

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