No. There is no exemption from tax for full-time students. Every U.S. citizen or resident must file a U.S. income tax return if certain income levels are reached. Factors that determine whether you are required to file an income tax return include:
  • The amount of your income (earned and unearned)
  • Whether you are able to be claimed as a dependent
  • Your filing status, and
  • Your age
If your income is below the filing requirement for your age, filing status, and dependency status, you will not owe income tax and will not have to file a tax return. However, a full-time student would want to file if he or she had income tax withholding and is due a refund.