Hi I'm 16 and have a few questions on income taxes. I didn't make much last year due to the fact that I started working august of 2014. My mom told me I should wait until next year so I could receive more money back at that point in time. I asked if I could do that and she said yes but I am unsure. Am I allowed to hold off my income taxes until next year to get more at one time back?

You must file a tax return FOR every year.

If you owe money, file on time - the penalties for late filing are worse than the penalties for late payment. If you've overpaid and they owe you a refund, then there is no penalty for late filing.

You do not want to make a mistake here LOL.

But if you are sure the IRS owes you money, then yes, you can put off filing your 2014 taxes for a year. But you'll still have to do 2 forms, you cannot put 2 years on 1 form.

But that is a stupid way to force yourself to save. Educate yourself financially so you can do what you love and not be a wage slave.

Your mom is wrong. Each tax year stands on its own. File your 1040EZ for wages earned in 2014 by 4-15-2015. {Free tax preparation online makes it super easy - except for typing in all of the info - lol.}

If you do not file this year, you could file both 2014 and 2015 reports in 2016 - but that is a hassle. Secondly, you do not have to file if you do not mind the government keeping the FIT {federal income tax} that was withheld in the prior year. [or if you had zero FITw/h] [ Some year, when you make over the $6,000+ threshold, then you MUST file.]

Mom is wrong. A separate tax return must be filed for each calendar year. There is no point in "waiting for next year."

It doesn't work that way.

And your mother goddamn knows it.

You MUST file a tax return EVERY year .