First Paycheck, What Do?

B

B218

New Member
Jurisdiction
Illinois
I think this is the right place, I apologize if it isn't.

I recently got my first paycheck. I saw that income tax, medicare, social security, and so on are already deducted, so do I need to file taxes? I don't know if I need to file for tax returns. If I do, what should I look for in a tax lawyer so I know how to file and all that?
 
You don't file a tax return after each paycheck if that is what you are asking. You wait until the end of the year and your employer will send you a W2 form that will tell you all of your earning and what has been withheld for income tax or paid to Medicare and social security. Then you have until April 15 (or there about) of the next year to file your tax return.
 
Congratulations on becoming a bonified taxpayer.

Eventually you'll relish your role.

If you received earned income in 2024, you'll file federal and Illinois state taxes in mid April (usually April 15) of 2025.

Here is the IRS website link

Internal Revenue Service | An official website of the United States government

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.
www.irs.gov www.irs.gov

Here is the Illinois state tax agency link:

Revenue

Committed to excellence and working together to fund Illinois' future
tax.illinois.gov tax.illinois.gov
 
B218 said:
Okay. What do I need to have documented so I can file taxes? My parents use H&R Block to help, will I need to use something similar?
Click to expand...
You can read the helpful instructions offered on the IRS website and file your own taxes.

You can follow your parents' example and pay one of the many tax filing companies, such as H&R Block, or use the online offerings, such as:

File your taxes for free | Internal Revenue Service

Prepare and file your federal income tax return online for free. File at an IRS partner site with the IRS Free File Program or use Free File Fillable Forms. It's safe, easy and no cost to you.
www.irs.gov www.irs.gov


TurboTax® Official Site: File Taxes Online, Tax Filing Made Easy

TurboTax® is the #1 best-selling tax preparation software to file taxes online. Easily file federal and state income tax returns with 100% accuracy to get your maximum tax refund guaranteed. Join the millions who file with TurboTax.
turbotax.intuit.com turbotax.intuit.com




I suggest you seek additional guidance from your mom or pop.
 
There are a number of online tax services that allow you to file at least your federal tax return for free. They're incredibly simple and easy to find. It's also possible that, if your parents use tax software, you'll be able to use that (I think the software I use gives you five returns, so my kids also use it). Last, if you're only working part-time, it's possible that you won't have enough income to need to file.
 
B218 said:
Okay. What do I need to have documented so I can file taxes? My parents use H&R Block to help, will I need to use something similar?
Click to expand...

Don't sweat it. Wait until you get your W-2 next January or so. Then go to the IRS website and download Form 1040 and its instructions. It's not rocket science.

Illinois Dept of Revenue has forms and instructions.

You'll also need to find out if your city has an income tax.
 
B218 said:
I think this is the right place, I apologize if it isn't.

I recently got my first paycheck. I saw that income tax, medicare, social security, and so on are already deducted, so do I need to file taxes? I don't know if I need to file for tax returns. If I do, what should I look for in a tax lawyer so I know how to file and all that?
Click to expand...

Whether you *need* to file taxes depends on how much you earn.

There is no penalty for not filing if your income is low enough that you do not owe income taxes. However, if you do not file, you will also not get a refund if you are owed one.

You do not need a tax lawyer.

If all of your income is W2 income, you should not even need an accountant. Income from a paycheck is (usually) W2 income. Your employer will send you a W2 form in January or at latest February. Your W2 will indicate your total income, and what was withheld for what. This is the document you use, not your pay stubs, when doing your federal and state income taxes.

You can use the fillable forms, or you may in fact qualify for a free software:
IRS list of free file partners
However, I don't think that this includes state software.
Illinois free tax prep sources

Commercially available software (like H&R Block) can do your federal and state taxes and electronically submit them.

Note: you probably don't need to worry about itemizing your deductions. The software will prompt you about info for itemizing, and then tell you that the standard deduction is what you should use.
 

Share this page

Get a free case review from a lawyer
Back
Top