FAQ

Here are the answers to some of the most Frequently Asked Questions our firm receives.

1. What are the due dates for estimated tax payments?
2. Who gets audited and what can happen?
3. Is there an age limit on claiming my child as a dependent?
4. How much does an unmarried dependent student have to make before he/she has to file an income tax return?
5. 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?
6. Can I receive a tax refund if I am currently in a payment plan for prior year's federal taxes?
7. For head of household filing status, do you have to claim a child as a dependent to qualify?
8. How do I know if I have to file quarterly individual estimated tax payments?


Q. What are the due dates for estimated tax payments?
A.  For individuals the due dates are April 15 for Voucher 1, June 15 for Voucher 2, September 15 for Voucher 3 and January 15 for Voucher 4.

Q. Who gets audited and what can happen?
A. About 58% of IRS tax audits affected individuals with incomes less than $50,000 in 2007. 2 The IRS is stepping up efforts to close an estimated $345 billion tax gap in 2009. 2 Almost 1.4 million individual tax returns were audited in 2008 - that's 1 out of every 99 returns. EITC audits made up more than 19% of 2008 individual tax audits. 2

What Can Happen?

Q. Is there an age limit on claiming my child as a dependent?
A. Age is a factor in the qualifying child test, but a qualifying relative can be any age. As long as the following tests are met, you may claim a dependency exemption for your child:

  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 student, you must file a tax return if your earned and/or unearned income exceeds certain limits. To find these limits refer to "Who Must File, 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 if you can get money back (for example, had income tax withheld from your pay; you qualify for the earned income credit; you qualify for the additional child tax credit). See "Who Should File" in Publication 501, Exemptions, Standard Deduction and Filing Information, for more examples.

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.

Q: For head of household filing status, do you have to claim a child as a dependent to qualify?
A: In certain circumstances, you do not have to claim the child as a dependent to qualify for head of household filing status; for example, a custodial parent may be able to claim head of household filing status even if he or she released a claim to exemption for the child.

Q: How do I know if I have to file quarterly individual estimated tax payments?
A: You  must make estimated tax payments for the current tax year if both of the following apply:

There are special rules for:

2 - Source: Irs.gov