my income was only 3.380 do i have to file what is the most i can make before being taxed
2007-03-26 23:37:55 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
That depends upon many factors. Your filing status, your age, your dependency status, and the source of the income all factor into the test.
For a single taxpayer under 65 who cannot be claimed as a dependent by another taxpayer, the magic number is $8,450 in income from wages for the 2006 tax year.
If the source is Self Employment income, the magic number is $400.00 since you have to pay Social Security and Medicare taxes yourself.
If the source is unearned income such as dividends and interest income the magic number is $850.
Different amounts apply for other filing statuses or if you can be claimed as a dependent on another taxpayer's return. See IRS Pub 501 for a complete explanation.
Even if your income is below the filing requirement amount, if any income tax was withheld from your wages you must file a return if you want to receive a refund of the withheld taxes.
2007-03-27 00:27:37 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
if your filing status is single and under the age of 65 then your gross income has to be less than 8450 otherwise you have to file
2007-03-27 06:46:54 · answer #2 · answered by onlinedreamer 3 · 0⤊ 0⤋