how much income must you have before you must file federal income tax?

Answer 1

If you make more than $4,000.00 you must file, but if you made less than that you can file and may get some money back .. file for free @ taxact.com


Good Luck!

Answer 2

As long as you don't have any tax liablity, there is no penalty for failing to file a return because the failure to file penalty is based on a percentage of the underpayment of tax. Technically, however, you are required to file an income tax return if you received any taxable income during the tax year, whether or not the aggregate amount exceeds the "zero bracket amount", which is the amount of income you can receive before the next dollar is subject to tax at the marginal rate. But there are a number of reasons why you should file regardless of whether you have any tax liability, such as to maintain a record and to avoid triggering a correspondence audit due to receiving income reported on forms W-2 or 1099. which are matched by the IRS with the payees' returns. Even a correspondence audit is more hassle than filing a return.

Answer 3

IRS Tax Tip 2011-26, February 07, 2011 The Social Security benefits you received in 2010 may be taxable. You should receive a Form SSA-1099 which will show the total amount of your benefits. The information provided on this statement along with the following seven facts from the IRS will help you determine whether or not your benefits are taxable. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status. Generally, if Social Security benefits were your only income for 2010, your benefits are not taxable and you probably do not need to file a federal income tax return. If you received income from other sources, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status. Your taxable benefits and modified adjusted gross income are figured on a worksheet in the Form 1040A or Form 1040 Instruction booklet. You can do the following quick computation to determine whether some of your benefits may be taxable: • First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income. • Then, compare this total to the base amount for your filing status. If the total is more than your base amount, some of your benefits may be taxable. The 2010 base amounts are: • $32,000 for married couples filing jointly. • $25,000 for single, head of household, qualifying widow/widower with a dependent child, or married individuals filing separately who did not live with their spouses at any time during the year. • $0 for married persons filing separately who lived together during the year. For additional information on the taxability of Social Security benefits, see IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits. Publication 915 is available on this website or by calling 800-TAX-FORM (800-829-3676). Links: Publication 915, Social Security and Equivalent Railroad Retirement Benefits

Answer 4

It varies depending on your filing status, your age, if you're legally blind, and what kind of income you are talking about. If it's self-employment income you would have to file a federal income tax form 1040, if you're self-employment income, after deducting expenses goes above $400. Also, you could have very little income, but if you have had federal income tax withheld from that income, you would want to file a tax return to show that you had no taxable income to get back the tax withheld.

Answer 5

If you are single and under 65 file a return if your gross income was at least $8450. However, if they have taken out taxes either federal or state you need to file to get them back.

Answer 6

$400 if it's from self employment. Otherwise, $5150 if you are single, under 65 and can be claimed as a dependent; $8450 if you're single, under 65 and not a dependent. Limits are different for other filing statuses, or if you're legally blind or 65 or over. They're higher unless you're married filing separately, in which case the limit is lower. For full info, see instructions for 1040.

Answer 7

I think it may vary by state, I believe NY state is 8,000 or more.