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A retired couple haven't paid any taxes for years, but she is now getting her social security and the two incomes may make them over the wire to pay taxes. They asked me how much can they make and still not pay any taxes?
Another question: If you make under do you still have to file to pay state tax?

2007-04-10 03:31:51 · 3 answers · asked by Steven 6 in Business & Finance Taxes Other - Taxes

this is in the USA

2007-04-10 03:32:09 · update #1

3 answers

social security is not included when you figure the minimum amount needed to file a return

if they are married and neither is over 65, they can make $16,900. before needing to file a Federal tax return

if one is over 65 they can make $17,900.

if both are over 65 yr old, they can make $18,900.

these amounts are for 2006 and will increase for 2007

if they had as much as $400. income from self-employment they would need to file a return

different states have different filing requirements, you'd have to ask the question for the particular state or look in a instruction book for that state tax forms

2007-04-10 04:23:42 · answer #1 · answered by Jo Blo 6 · 0 0

If they're both over 65, and their total income excluding social security is under $18,900, then they don't have to file a return and don't owe income taxes at the federal level. This year they should still file a 1040EZ-T to get the $40 telephone excise tax credit if they don't file a tax return - if they do file a return, they'd claim the telephone credit there.

State tax would depend on where they live.

2007-04-10 06:42:47 · answer #2 · answered by Judy 7 · 0 0

NO and how do we know he actually paid them back and if he did did he have to pay a substantial penalty? HOW CAN THE US SENATE OK SOMEONE LIKE THIS oops for the the position of the Treasury Secretary of the USA. This is not good this is very bad this is just the tip of the ice burg and only on the job one week. I am not the least bit surprised however. The perfect law breaking role model all right.

2016-04-01 06:55:04 · answer #3 · answered by ? 4 · 0 0

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