Frequently Asked Questions

Here are some FAQ's, according to the IRS.  We hope you find this helpful.  However, please contact us if you have any other questions or to set up a personal consultation.

Q: What are the tax changes for this year?

A: For highlights of any tax changes for the current tax year please refer to the "What's New" section of the following:

Form 1040 Instructions (PDF), the Form 1040A Instructions (PDF), or the Form 1040EZ Instructions (PDF).

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

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 him or her:

  1. Qualifying child or qualifying relative test
  2. Dependent taxpayer test
  3. Citizenship or resident test
  4. Joint return test

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

A: If you are an unmarried dependent, you must file a tax return if your earned and/or unearned income exceeds certain limits.

  • To find these limits refer to Filing Requirements for Dependents in Publication 501, Exemptions, Standard Deduction and Filing Information.
  • 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:
  1. You had income tax withheld from your pay.
  2. You qualify for the earned income credit.
  3. YYou 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.

Q: 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?

A: 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 indicating that someone else can claim her as a dependent.

Q: Can I receive a tax refund if I am currently in a payment plan for 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 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 student loan, or child support. You can contact Financial Management Service (FMS) toll-free at 800-304-3107.
  • The IRS will automatically apply the refund to the taxes owed.

For information and common FAQ's, please visit IRS.GOV or Contact us directly!

 

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