Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 7 years ago

A question about IRS tax refund?

I am a single father of two, a one year old and a one month old. My children's mother and I are not married, we never were, and are no longer together. We live seperately, and live our own lives now, and I have the children with me. She has not worked since December 2010, so has no income to claim. Neither one of us is in school, and again, I'm the only one working. My income is $37,600 annually. I'm claiming the children and my income. I owe the IRS about $800. And every refund I get, I never see, as they just apply it to the balance. But I've never had this much income before and I've never claimed children. Two or three people have told me that I could expect a refund more than 800. Is that true or a myth? And if so, what's a good ballpark figure for me to expect? And when do tax fefunds arrive?

Roswell GA (Atlanta)

6 Answers

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  • Bobbie
    Lv 7
    7 years ago
    Favorite Answer

    W-2 income with a FIT amount in the Box 2 for the 2012 tax year that you would receive a copy of from your employer during the 2013 tax filing season for this purpose. Living in your own home that you have maintained for the tax year 2012 with both children and one is only a month old for this purpose and time in your life.

    Where is and has the mother been living during all of this tax year while waiting to give birth to this child a month ago.

    And you do have to sign the completed tax return where the below statement is included at bottom of the page of the 1040 tax form for your use at this time in your life.

    Under penalties of perjury, I declare that I have examined this return, and to the best of my knowledge and belief, it is true, correct, and accurately lists all amounts and sources of income I received during the tax year.

    Your signature Date Your occupation

    Be sure that you do have very good daily detailed written records and a copy to be able to prove all of your information that you reported on your 1040 income tax return during the tax filing season for this purpose.

    And on the copy of the worksheet that you used to determine the amount of support that you and others paid for this purpose available in case the IRS should decide that they would want you to verify some of the information that you entered on your 1040 income tax return and printed a copy for your records and signed the other copy to send to the IRS for processing at that time in your life.

    Here you go you can try and do your own estimated tax calculations at this time in your life for this purpose since you are the only one that would know all of the needed necessary information at this time.

    www.irs.gov website and use the search box for 2012 Form 1040-ES (OTC)

    Estimated Tax for Individuals

    http://www.irs.gov/pub/irs-pdf/f1040es.pdf?portlet...

    Copy and paste the below enclosed website address into your browser address bar for this purpose.

    http://www.dinkytown.net/java/Tax1040.html

    Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2012. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2013.

    In 2011, Federal income tax rates were scheduled to increase to pre-2001 levels, but the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" left the existing tax brackets in place through 2012.

    You probably can find an estimated tax calculator for your state income taxes by going to your state income tax department website and use the search box for estimated tax calculator at that time in your life.

    I would hope that you do find the above enclosed information useful for your situation and good luck to you with this matter. 11/05/2012

  • Since the children live with you, you are the only person that can claim them unless you surrendered the exemption and Child Tax Credit to the mother.

    At your income, filing as Head of Household, your net income tax liability for 2011 would be -$615. In other words, you would have received a refund of $615 if NO federal income tax had been withheld from your wages for 2011. For 2012 it will be slightly larger, maybe around $650 or so.

    So, take whatever has been withheld from your pay for federal income taxes and add $650 to that. That's what your refund will look like for 2012. If that's more than the $800 that you currently owe, you will receive a refund of the difference. (Don't forget that penalties and interest continue to accrue on your debt, so it may be larger than $800 now.)

  • Lisa
    Lv 4
    4 years ago

    There will be no cycle chart this year. Almost everyone will receive their refund within 21 days, but usually way before the 21 days. For example: I filed with Turbo Tax on 1/23/2013, my returns were accepted early by the IRS on 1/26/2012, and my refund has now been approved with a direct deposit date of 2/4/2012.

  • Judy
    Lv 7
    7 years ago

    You'll probably qualify for EIC of a little over $700. You're at the top end of income, where EIC has started to phase out, so you won't get the thousands of dollars some people see.

    Without any idea of how much you had withheld for federal income tax, no way to even guess how much refund you might have, and whether it's enough to pay off what you owe and still give you some back.

    If you e-file and request direct deposit, and nothing is questioned, refunds usually come in a week or two.

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  • Anonymous
    7 years ago

    Be prepared to show the IRS that you and the children live together for more than 6 month of 2012 and that the mother lives elsewhere.

    It appears you didn't claim the older child last year--tax returns where qualifying children are claimed the first time tend to be audited. Your income is low enough to be eligible for about $1300 of EIC.

    Also, when you go to file, if you use a preparer, be ready to pay the bill. The prepaper will attempt to efile the return. If someone else (like the mother or her parents) tries to claim the children and files first, you will need to pay the preparer, get a hardcopy, sign it and mail it in. You do NOT remove the children, file and amend. Waste of time.

  • tro
    Lv 7
    7 years ago

    you will be claiming head of household which will make some change if you have not filed this way before

    you have the personal exemptions for each child, and yourself, you have a child tax credit for each child which reduces your actual income tax liability

    you have the EIC credit you may not have had before and any child tax credit not absorbed earlier is now available as an additional child credit

    this could amount to several thousand dollars for you

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