when is the first time you have to file taxes?

Question

a friend turned 19 about 8 days ago will she have to file taxes for this year and should she have filed last yr?

Answer 1

You must file taxes the year you start getting taxable income. This is regardless of age.

Answer 2

It has nothing to do with age. If you earn money, you must file a tax return. Child actors who earn money must file tax returns, even if they were only days or months old when they earned it.

My dad died when I was 5 and money was put into a trust fund for me. Since the account earned interest each year, I had to report those earnings every year. I remember thinking that it wasn't fair because I couldn't vote! Taxation Without Representation!!

Answer 3

The first time you have to file is the year that you earn more than the maximum untaxable income. For 2006, that was $5,150 in wages for a child who was claimed as a dependent on their parents' tax return. If the child had more than $400 in self-employment income or more than $850 in unearned income (dividends and interest, for example) then a return would also be required.

It is not based on age, but income. There are 5-year olds that have to file tax returns -- think of child actors. (A 5-year olds return would be signed by their parent or legal guardian, but the tax liability would belong to the kid.)

Answer 4

If she received " 2006 " W-2 then she needs to file it. When you say " this year " mean 2007 and you're not file for 2007 income taxes until 2008.

Answer 5

does she work? if she's been officially employed then she shouldve filed her taxes once she turned 18. ur officially an adult.

but-

u file taxes only if you make above the minimum dollar amnt indicated by the US tax admin.

Answer 6

April 15th in the year following your first paycheck.