how much does someone get back on their tax refund if the made 57 gran and have 4 dependents? I heard they?
Usually don't get much, so I'm just curious to know!
- troLv 77 years agoFavorite Answer
not enough information
are these four dependents your children, are you married or head of household==the wife is NOT a dependent, she is a co taxpayer
personal exemptions are $3900 each
married filing jointly standard deduction is $12200, head of household $8700
you will have no EIC, you do have the Child tax credit for your children in the household under 17 and then how much was withheld from your paychecks
- CarlLv 47 years ago
Assuming the following:
(1) you are married and will file jointly
(2) you and your spouse have 4 dependents (that would make 6 exemptions on your tax return)
(3) that you have no other income
(4) that you had no tax withheld
(5) that you do not itemize
(6) that your dependents (children) are over age 17 - therefore you are not eligible for the CTC (child tax credit)
Using the 2012 tax information you would have the following:
- 11,900 standard deduction
-22,800 exemptions ($3,800x6)
$22,300 taxable income
the tax on $22,300 = $2,479 tax liability
Note that your tax liability would be offset by whatever amount you had withheld through wages or that were made in estimated payments during the year.
Note also that if your children are not yet 17 you may qualify for the CTC and thereby reduce your taxable income by as much as $1,000 per eligible dependent child.Source(s): IRS Pub 17
- Silly GooseLv 77 years ago
This year I'm paying about $2,000. I like to pay.
The size or the refund is not the same for everyone, since you can choose the number of withholdings. How much you pay all year for taxes.
Some dufuses out there like to get 5 or 10 grand as a refund. Not sure why they like to give the government an interest free loan all year.
- ?Lv 77 years ago
And could be correct all of your W-2 forms for the 2013 tax year TOTAL amount of FIT Box 2 to used as a TAX CREDIT on the correct line of 1040 FIT return during the 2014 tax filing season.
Medicare and social security taxes would never be refunded to you during the tax filing season.
Possible REFUND of some of the FIT Federal income tax amount that is in on the W-2 form in the Box 2 $$$ amount that will be used as a TAX CREDIT on the correct line of 1040 FIT return during the 2014 tax filing season for the 2013 tax year and the same thing would also apply to the other state and local tax amounts and the amounts will be in the correct boxes at the bottom of the W-2 form to used on the state income tax return and the other local income tax return during the tax filing season for that purpose.
Use the search box at the www.irs.gov website for the 1040ES Estimated Tax for Individuals
Use this package to figure and pay your estimated tax.
Once you finish learning how to use the above information you can try to double check yourself by using the below enclosed information.
Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2013. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2014.
W-2 Box 1 ?????? wages earnings during the 2014 tax year Box 2 FIT $ amount withheld to be used as a TAX CREDIT during the 2014 tax filing season and when this amount would be MORE than your FIT liability IS at that time you MIGHT be able to qualify for a REFUND of some of that amount during the 2014 tax filing season for the 2013 FIT return.
Single taxpayer age 25 more than 6 months in the US.
Your federal taxes are estimated at $?????. Your outstanding tax bill $?????.
This is ???% of your total income of $?????. Your total tax payments and refundable credits for the year were $?. Your outstanding tax bill is estimated at $?????. Your income puts you in the ??% tax bracket.
Hope that you find the above enclosed information useful. 12/29/2013
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- Wayne ZLv 77 years ago
It depends upon how much you had withheld.
A tax refund is just you getting your own money back.
- Cathi KLv 77 years ago
How much was withheld? Married? Own a home? Lots of unanswered questions.
- JudyLv 77 years ago
It depends on how much they have taken out. If they had too much taken out, they get back their overpayment.
No they don't get EIC like lower income people do
- SlickterpLv 77 years ago
They might owe. No way to tell just on income and dependents.
- Max HooplaLv 77 years ago
Grans are not taxed at all.
- 7 years ago