2007-12-23 12:04:13 · 5 answers · asked by just me 2 in Business & Finance ➔ Taxes ➔ United States
To file "for a return"? Are you asking about getting a refund? If you had more withheld for federal income tax than you owe, then you can file and get it refunded. Under some circumstances you might also be eligible for an Earned Income Credit or additional child tax credit that can give you more back than was withheld - those depend on your income, filling status, and number of dependent children.
2007-12-24 16:34:43 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
A tax return is a form you fill out listing your income, adjustments, exemptions, deductions; calculate your tax liability and figure out any tax due or amount to be refunded. You don't "file for a return" you file a return.
Whether or not you need to file depends upon many factors. Your marital and filing status, whether or not you're a dependent yourself, and the source of the income all come in to play. For example, a Single taxpayer who is not the dependent of another taxpayer and whose only income is from wages subject to withholding needs to file if they make more than $8,750 in 2007. If that person is a dependent of another taxpayer, the filing requirement amount drops to $5,350. And if they're self-employed it drops all the way down to $400.00.
If you earned less than the filing requirement amount but had income taxes withheld from your pay you'd need to file to have those taxes refunded.
If you are required to file, whether you get a refund or have to pay depends upon your tax liability and how much was withheld from your pay through the year.
2007-12-23 20:36:32 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Ok, here's the simple answer: If you made more than your standard deduction and exemption for that year combined, or you had self-employment income, then you are required to file. I prefer putting it this way rather than giving a dollar amount, as it usually changes each year.
That being said, it's usually best for you to file anyways, as most companies will take out withholdings from your check, and filing is the only way to get those withholdings back.
2007-12-23 20:42:21 · answer #3 · answered by darkridr 6 · 0⤊ 0⤋
For single, non dependent, not blind, below 65 age, then you must file if income is $8,750 or more. Or self employed income is $400 or more.
2007-12-24 04:46:25 · answer #4 · answered by MukatA 6 · 0⤊ 0⤋
I believe it''s 600.00 or more
2007-12-23 20:08:33 · answer #5 · answered by B 2 · 0⤊ 2⤋