How much do you have to make in a year to file your taxes?

Answer 1

For most people, regarding gross income amounts: According to the IRS website, you should file a return if you have gross income of at least:

(If you are age 65 or older, the income amounts are higher)

Single: $8,450
Married filing jointly: $16,900
Married filing separately: $3,300
Head of Household: $10, 850
Qualified Widow(er) with dependent child: $13,500

If you were married but did not live with your spouse, you must file a return if your income was at least: $3,300

You should file a return if you had self employment income of $400, or more.

Regardless of your income, if you are expecting a refund, you must file a return to claim your refund. You have 3 years to do so. This year there is a new telephone excise tax refund for those who have owned a phone and paid for long distance service. To claim this refund, you must either file a return with the IRS, or file the correct form with the IRS. Also, there are other credits available to some individuals that are refundable regardless of tax liability. You need to file a return to claim these credits.

You also must file a return if you have received advance EIC payments during the year through your employer.

If you are a dependent of someone else, there are other rules as to when to file.

If you owe any taxes, you should file regardless of your income.

You may file a tax return even if you have no tax liability, and are not required to file. Some people do so to show continuity from year to year. Also, there will be a record of your 2006 income and expenses on file. That may be helpful to some people in certain situations such as divorce, applying for loans or grants, or other times when a yearly financial record is needed.

Answer 2

TaxMan is correct. If you have any tax withholding, you should file even if you are not required to. The maximum you can earn without being required to file is the amount of your standard deduction and personal exemption. Therefore, if you are not required to file, all income tax withheld should be due as a refund. If you don't file, you can't claim the refund.

Answer 3

You can always file a federal tax return as long as you have taxable income. Whether you MUST file or whether you will have any tax liability is a different story. Sometimes there are refundable credits that, even if you don't have to file and even if you didn't have anything withheld, will actually give you a refund.

Answer 4

No, you purely report this 3 hundred and sixty 5 days's counsel. in case you probably did no longer make adequate final 3 hundred and sixty 5 days to report, then you definately do no longer ought to declare that earnings in any respect. in case you had money coming lower back final 3 hundred and sixty 5 days yet did no longer get it considering you probably did no longer report, then you definately can nonetheless report final 3 hundred and sixty 5 days's (final 3 hundred and sixty 5 days's return could be completely cut loose this 3 hundred and sixty 5 days's) and get your money lower back.

Answer 5

$600 earned income