Teens, Taxes and Summer Jobs

Here's what the IRS wants you to know if your child has earned income.

If your teen has a job this summer, you're probably thankful he's earning some cash so he doesn't come to you begging for money all the time. Uncle Sam's glad, too, because some of that money might be coming his way. That's right -- your child might owe taxes on the money he earns this summer.

Here are five things the IRS wants you to know about income earned from a summer job:

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Cameron Huddleston
Former Online Editor, Kiplinger.com

Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.

Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.