Should My Massachusetts Child File a Tax Return?

by | Mar 31, 2022 | Taxes |

It is possible to claim a kid as a dependent who is under the age of 19 (or 24 if they’re a full-time student) for the whole tax year if you provided more than half of their financial support. Non-dependents will have the same tax-filing duties as any other adult.

Children who were dependent on you in 2021 and worked may still be required to file their taxes, even if you can deduct their earnings. According to Jackson Hewitt Tax Services’ chief tax information officer, Mark Steber, your child will need to file a tax return if they made $12,550 in income.

When it comes to tax withholdings, it doesn’t matter if they had a large or little employment, new or old, “if it had tax withholdings, they can’t get that money back,” Steber tells Nexstar. It’s quite likely that they had federal and/or state income taxes withheld from their earnings during the summer, and that money isn’t refundable unless they submit a tax return.

Your dependents who are at college are also exempt from paying taxes, according to Lisa Greene-Lewis, a CPA and tax specialist with TurboTax.

When it comes to tax refunds, “the IRS reports over a billion dollars in unclaimed refunds every year, and a large portion of it goes to college students who do not think they should file,” she says.

Your child’s filing requirements will be altered if he or she receives money from sources other than a salary. According to the IRS, your child may be required to pay a special tax if his or her income in 2021 exceeds $2,200.

You may be eligible to put your child’s interest and dividend income on your tax return if it totals less than $11,000 in 2021, rather than filing a separate return.

Should you be in the midst of a divorce or contemplating divorce, contact the Law Offices of Renee Lazar at 978-844-4095 to schedule a FREE one hour no obligation consultation.

Set Up A Free Initial Consultation