Seems that many high school and college aged kids are incorrectly having federal and state income taxes withheld from their wages. The IRS wants to help parents of working children avoid the headaches and costs of preparing tax returns for their kids who won’t earn enough to be taxed. All you need to do is have your child write the word “Exempt” below Line 4C of new the Form W-4 that is generally completed the first day of employment.
- Update For Taxpayers Who Qualified For The $10,200 Exclusion on Unemployment Benefits But Filed Too Early to Get It
- Where’s My Refund?
- Additional Plug-In Vehicles Qualify for Tax Credit of Up To $7,500
- MASS Finally Conforms With Federal Rules For PPP Loans and EIDL Advances
- Still No Update By HHS On The PRF Self-Reporting Requirement