Minimum income requirement to file taxes

If you are owed a return, TurboTax will need additional information on how you would like to receive your federal and state refunds.

An expected return can be a financial windfall to put towards your financial goals. If your income is in the lower range and you are just not sure what to do, you can always start to complete a federal tax return through a free filing service like the one TurboTax offers. Their software should help you determine whether filing is necessary based on your specific circumstances. Always, I repeat, ALWAYS file a return if you had taxes withheld from your paycheck or if you suspect you might qualify for a refundable tax credit, like the child tax credit, education credits, etc.

Learn more about tax credits here. I receive a VA check and a social security Check. Do I need to file? I worked some hours for a LLC this summer. None of the checks had taxes taken out. I did earn a little over Should i file a tax return for the work I did with them? I want my money back. Even if you withholding status is correct and you may not have to file, there can be reasons to file anyways. For us, on initial review, our refund would have been very low less than 40 dollars, in the case of federal taxes — state is a whole different ball game and not necessarily something I would go through just to get 40 dollars taxes really stress me out.

But there are a few credits that you can earn that will give you a refund even if you owe no money — those are really worth filing for me if you qualify. Great post — here is a little bit more info and sort of one of my peeves: Why give the government an interest free loan every year? Watch your payroll taxes -adjust during the course of the year the amount of deductions you have.

I know that I brought home more money last year and was able to bank it in savings at least drawing some interest. Looks like I did! Seems kind of low! But, I guess they are trying to be cautious. Another reason: To contribute to a Roth IRA, you have to prove you earned money in the year you make the contribution. Ryan Hi Ryan, if a child files late, do they get a penalty?

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Table of Contents Expand. Table of Contents. Minimum Gross Income Thresholds for Taxes. Qualifying Rules for Standard Deductions. Unusual Tax-Filing Situations. He has written hundreds of articles covering topics including filing taxes, solving tax issues, tax credits and deductions, tax planning, and taxable income.

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Do Expats File State Taxes? It depends. State taxes are one of the most misunderstood aspects of expat tax. Common Tax Forms Thousands of tax forms exist, but which select few you really need to understand. All Expat Tax American Educators Abroad TFX has partnerships with many international schools to assist their staff with tax filings. American Contractors Overseas Contractor taxes contain many nuances, especially for potential state tax filing requirements.

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