A: If you are an unmarried dependent, you must file a tax return if your earned and/or unearned income exceeds certain limits. Even if you do not have to file, you should file a federal income tax return to get money back if: you had income tax withheld from your pay, you qualify for the earned income credit or you qualify for the additional child tax credit.
Q: If I claim my child as a dependant because he/she is a full-time college student, can he/she claim her-/himself as a dependant upon filing a tax return?
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Q: Is there an age limit on claiming my children as dependants?
A: 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 a child: qualifying child or qualifying relative test, dependant taxpayer test, citizenship or resident test and joint return test.
Q: What if I make a mistake on a return I’ve already filed?
A: It depends on the kind of mistake you make. Many mathematical errors are caught in the processing stage of the return itself. If you did not attach a required schedule, the service will contact you to ask for the missing information. If you did not report all income or did not claim a credit, you are entitled to file an amended or corrected return.
When filing an amended or corrected return, include copies of any schedules that have been changed or any Form W-2s you did not include. Form 1040X should be submitted after you receive your refund or by the due date of the return, whichever is earlier.
Generally, to claim a refund, Form 1040X must be received within three years after the date you filed the original return or within two years after the date you paid the tax, whichever is later.
Q: Can a person receive a tax refund if they are currently in a payment plan for a prior year’s federal taxes?
A: As a condition of your agreement, any refund due you in a future year will be applied against the amount you owe. Continue making your agreed payments as scheduled since your refund is not considered a substitute for your regular payment due. You may not get all your refund if you owe certain past-due amounts, such as federal or state tax, a student loan or child support. IRS will automatically apply the refund to the taxes owed.
-- Stacy Trevenon
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