Ok....
I have a bet going with my girlfriend. Do you only need to file taxes if you have an income? My thought is that even if you have no income, the federal govt. wants you to file a return. How does this work with the homeless?
Thanks!
2007-04-20 03:30:36 · 15 answers · asked by BriGuy 3 in Business & Finance ➔ Taxes ➔ United States
if you are homeless and have no job not only do you not need to file taxes you can not. you have no address or anything. you have nothing to be taxed on so why would you need to files taxes?
if you are unemployed and collect unemployment than you have to file taxes if you are just unemployed than you do not.
2007-04-20 03:33:41 · answer #1 · answered by Anonymous · 2⤊ 0⤋
If your income exceeds the filing requirement amount a tax return is required. If you earned less but had any taxes withheld (or qualify for the EITC) then you need to file a return to have any withholdings (or EITC credit) refunded to you.
Whether you have a fixed address or not is not part of the process. A homeless person who earned more than the filing requirement amount does need to file a tax return.
The filing requirement amount varies based upon your age, filing status and whether or not you can be claimed as a dependent by another taxpayer. A single person under 65 not claimed as a dependent would need to file if they earned $8,450 or more in 2006. That's for wages subject to withholding, by the way. If you have self-employment income of $400 or more, a tax return is required. One is also required if you have $850 or more in unearned income such as dividends or interest income.
2007-04-20 03:49:43 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It's unlikely that a homeless person would have enough income to be required to file a tax return. However, if they earn more than $400 self employment income doing odd jobs, they ARE required to file. So it sounds to me like the bet is a stalemate. :-)
2007-04-20 06:40:45 · answer #3 · answered by dwagsfive 2 · 0⤊ 0⤋
Oops, get ready to buy dinner or whatever the bet is.
For each filing status and income source, there's a limit on what you need to make to have to file - if you're below that limit, then you don't have to file.
For income from a job where you get a W-2, for someone single who isn't a dependent of someone else, that limit in 2006 was $8450.
There are also some types of income that aren't taxable and don't need to be reported - SSI and child support are two of those. Social security payments only count if your other income is above a certain amount.
Unemployment compensation is taxable, so if someone's total reportable income, including that, is over the limit, then they'd need to file.
2007-04-20 03:35:11 · answer #4 · answered by Judy 7 · 3⤊ 2⤋
No, if you don't have any income what should you be paying taxes on? You need to have some sort of money coming in (work, alimony, trust fund etc.) to pay taxes and file tax returns.
2007-04-20 03:34:15 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Everyone who earns an income is supposed to file a tax return.
2007-04-20 03:33:03 · answer #6 · answered by Anonymous · 0⤊ 2⤋
You are correct. You only file if you have an income.
2007-04-20 03:37:48 · answer #7 · answered by Big Bear 7 · 0⤊ 0⤋
I don't think you have to file if you have -0- taxes due.
2007-04-20 09:23:58 · answer #8 · answered by Thomas O 2 · 0⤊ 0⤋
I don't know about homeless but as
far as I know the unemployed do. .
2007-04-20 03:34:19 · answer #9 · answered by Anonymous · 0⤊ 0⤋
no income no taxes
2007-04-20 03:34:08 · answer #10 · answered by mommym00n 3 · 2⤊ 0⤋