<p>thanks, that was my concern. if we were to file for taxes, then our income would go above the threshold for medicaid. </p>
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<p>That makes no sense whatsoever. Filing an income tax return won’t change the amount of your income.</p>
<p>filing an income tax return would mean reporting the income to the irs
i should be more clear, filing MY income taxes would mean the household income would increase, and thus push us past the threshold.</p>
<p>Dibby…you have another thread addressing this same issue.</p>
<p>Even if you do NOT file an IRS tax return, you MUST still include your earnings on your financial aid application forms…but the Profile and the FAFSA. </p>
<p>Your wages still count regardless of your tax filing status. </p>
<p>As I posted on your other thread…YOU would do a 1040EZ tax form most likely (unless you were self employed for your $3000 earnings). The 1040 EZ is just a few questions. You really should file this to get any withholding taken out of your check back. If all you earned was $3000, you likely do not have to pay taxes…and likely federal income taxes were withheld.</p>
<p>I’m not sure why this has you so confused. </p>
<p>And as Middkidd pointed out…your income amount is the same regardless of whether you file a tax return…or not.</p>
<p>Did you get paid under the table…because if so…that is a whole other issue.</p>
<p>ok i am basically asking…am i obligated to report to the IRS that i earned 3k even if i don’t file the tax return, and I believe Middkidd said no. Therefore…if I don’t tell the IRS that I earned 3k, my entire household income won’t increase.</p>
<p>I assume that you’re talking about “under the table” income that isn’t reported to the IRS by an employer, and from which Social Security and Medicare taxes were not withheld. This may qualify as “self-employment” income, and if more than $400 a year, would mean that the individual would be required to file a tax return so that self-employment taxes can be assessed.</p>
<p>Fraudulently qualifying for Medicaid is a separate issue.</p>
<p>i don’t think it’s under the table, i got a check from my employer, but i wasn’t aware employers reported the income to the IRS. I never filled out any forms, i just got a check</p>
<p>If you got a check…and it wasnt rom your employers personal bank account…then you had to provide your social security number, and fill out a W4 form indicating how you wanted yor withholding done.</p>
<p>Do you happen to have the stub to that check? If it was a payroll check, it would have clearly listed all withholding…federal income tax, state income tax, FICA,.</p>
<p>And even if the check IS from your employers personal account, you still earned that money, and it must still be listed on your financial aid forms.</p>
<p>my check does indicate all the withholdings, but i never filled out a w4 form…</p>
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<p>What are you talking about? You earned this Income…it is your income regardless of whether you choose to file a return…or not.</p>
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<p>YOUR inome does NOT get reported on your parent tax return. It gets reported on YOUR tax return.</p>
<p>YOUR income goes under the student section of income on the financial aid applications, NOT in the PARENT section.</p>
<p>And what do you mean “do I have to include my income in my tax statements?” If you file an IRS tax return YOURSELF, with YOUR income…yes…you I clide that income. </p>
<p>Your parents do NOT put your income on their tax return. YOUR income does not increase your parent’s income.</p>
<p>lol i am so confused…i was under the impression that if i did not file the tax return, the irs would never know that i ever earned money and i wouldn’t have to tell them and that would be perfectly legal…</p>
<p>You had to provide your employer with your SS number somehow. How did you do that?</p>
<p>for the record, I AM NO LONGER TALKING ABOUT FINANCIAL AID. I am going to report my income to all financial aid applications.
“Your parents do NOT put your income on their tax return. YOUR income does not increase your parent’s income.”
Are you saying, because I am a student, my income will not affect my family’s ability to get medicaid?</p>
<p>yup, i gave them my SS number, but i never filled out a W-4 or any tax related forms</p>
<p>I’m saying…YOUR income is YOUR income. It is not your parent income. </p>
<p>But listen to what MIddkidd said above. It does NOT matter one bit if you do taxes or not. This is still your income.</p>
<p>I have no idea how Medicaid is calculated. </p>
<p>Dibbydib, if you had income tax withheld, why would you not file a return to get that money back? Also, if you had taxes withheld, that means your employer will be reporting your pay to the IRS. If you are selected for a thorough verification, this will come up. WIth the IRS retrieval tool that the financial aid offices use, they can get a peek at a lot your info,</p>
<p>We were selected for a very general verification one year even though we weren’t getting anything other than unsubsidized loans, so none of the FAFSA numbers should made one bit of difference. Had to supply all sorts of things. My son had not filed a return for summer work because, like you, he did not have to do so with the amount made, and unlike you, had filled out an exemption for withholding. So we had to tell them, and also submit a copy of the W2. I don’t know what the financial aid office would say, if you did not report your earnings and your withholding as requested. Making under a cetain threshhold, would not make a difference in your student EFC, though bear in mind some PROFILE schools do not play by FAFSA games, and have their own rules and just might want a piece of that.</p>
<p>Also, when you did not report something, if there are errors on your applications, it take time to correct and resubmit when verified, and you could lose out on the best finanical aid that often goes fast. At schools with limited funds, once the money is doled out, it’s gone and latecomers could get gapped or given loans and workstudy instead of the grants.</p>
<p>Though you are mistaken in Post #30, in that the IRS would not know that you made money when you did not file a return, it’s because the employer is required to report those earnings. You still don’t have to file a return as far as the IRS is concerned and probably most schools too, since you are under the amount, most likely to be required to do so. When my son did not file a return, we just told them so, and that was it. But if you have unclaimed withholdings as of the date you filed your taxes, that money is technically an asset of yours and 20% could be assessed towards EFC. Doubt they’d do it It just takes up time when you don’t follow certain rules. </p>
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<p>Financial aid offices don’t use the DRT, students and their parents do. Financial aid offices can’t ‘peek’ at any IRS data other than what students/parents agree to transfer to fafsa via the DRT or what families choose to share by sending in tax returns, W-2s etc. Finaid offices don’t have big brother capabilities.</p>
<p>It sounds like OP is under the assumption that if she were to file taxes, her family would lose their Medicaid benefits - which is why she keeps asking if she is required to file. I’m not entirely familiar with Medicaid requirements and how they verify income, or even if a child’s income is included as a part of the household income. </p>
<p>He’s not talking about financial aid. He is concerned that his income will push his family over the income limit for Medicaid. I know nothing about Medicaid but I do know that for ACA subsidies all family members income have to be included IF they are required to file a tax return.</p>
<p>Annoyingdad…is unclaimed withholding considered an asset? I don’t think so!</p>
<p>The school’s will on,y see what is actually on the parent tax return…and It needs to be accurate. Ditto the student tax return.</p>
<p>We were also verifified…and we didn’t qualify for a penny of need based aid. The sxhool required all w-2 forms as well as tax returns including all schedules. We also had to send a copy of our bank statements as of the month of our financial aid filing.i have never heard of anyone else having to do so…a PITA.</p>