Do students have to file tax returns?
Whether a student has to file a tax return depends on the students filing status, age, and gross income. Assuming the student is a U.S. citizen or resident alien, and the student is not blind, the student must file a tax return if he/she can be claimed as a dependent on another person’s tax return, he/she had any unearned income, such as taxable interest, dividends, capital gains, and trust distributions, and his/her total income was more than $750. A dependent with only earned income, such as wages, tips, and salaries, must file a tax return only if his or her gross income is more than his or her standard tax deduction amount. Penalties If the student did not have enough tax withheld in 2006 he/she will not have to pay a tax penalty for 2006 if he/she did not owe tax for 2005.
