Change in withholding rules likely to take a bite out of tax returns ~ A few dollars a week ‘doesn’t stimulate the economy’
By JENNIFER ROBISON
LAS VEGAS REVIEW-JOURNAL
“If the minor earns income and is claimed as a dependent on someone else’s return then they only need to file a return if their total earnings exceed $5,700. The $5,700 is the standard deduction allowed by the IRS for 2009 tax returns. However, if the minor had income tax withheld from their W-2, then it’s to the benefit to the minor to file regardless of the earnings amount in order to get the tax refunded.”
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