<p>Hopefully you guys can help me, I'm really confused right now. I just got a lot of tax forms along with my work study papers. W-4 "employee's withholding allowance certificate" and IT2104, since i live in nyc. I don't really undertand what they are for. Does this mean that I won't have to pay taxes? I'm 19, eligible for $2,200 in work study, and will probably be claimed as a dependent on my parent's tax forms. Should/can I file the withholding tax forms, and does this actually benefit me? Thank you.</p>
<p>You have to fill out the W-4 form (sorry - I don't know about the IT2104 but assume it is the state equivalent). If you have not been liable for taxes in 2004, and do not expect to be liable for taxes in 2005 (earned income less than $5000) you can fill out lines 1 - 4, write "exempt" in box 7, and sign and date the form. If you expect to earn more than $5000, you fill out lines 1 - 4, and in box 5 put the number of allowances you are claiming (probably either a '1' or a '0' - they will withhold at a higher rate if you put '0'). You will then need to file a tax return by April 15, 2006 to "settle up" with the government. There is lots of information on <a href="http://www.irs.gov%5B/url%5D">www.irs.gov</a>.</p>
<p>thank you!</p>