2007-07-07 09:47:18 · 6 answers · asked by timothy87 2 in Business & Finance ➔ Taxes ➔ United States
Unless your interest income is over $9,750 (and more if you are married or over 65), you will not be required to file a tax return.
By the way, a bank CD is not tax-deferred, you may just collect the principal and interest when the CD matures. At any rate, tax-deferral makes no sense, if you owe no tax.
2007-07-07 14:08:05 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
If your only reportable income for the year is from social security, you won't have a filing requirement. However, whenever you cash in the CD's and have to recognize the interest, you might have to file depending on the amount of the interest.
2007-07-07 16:51:11 · answer #2 · answered by JaretR72 2 · 3⤊ 0⤋
Yes, you can go without filing taxes. When the interest becomes reportable on the CD's, you might or might not have to file, depending on your total income for the year.
2007-07-07 17:39:44 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
Not likely, they even make the executor of your will file taxes after you die.
Just file them and hopefully your income is low enough that you will get a rebate.
2007-07-07 16:49:42 · answer #4 · answered by unknown friend 7 · 0⤊ 4⤋
definate no! I work for the IRS.
2007-07-07 16:50:31 · answer #5 · answered by scentless_apprentice02 5 · 0⤊ 4⤋
no
2007-07-07 16:49:22 · answer #6 · answered by Elaine F 5 · 0⤊ 4⤋