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Does everyone file an income tax return? It depends

| Jan 25, 2019 | Uncategorized

Did you know that some people don’t have to file a federal income tax return? Each year, the IRS publishes the minimum income amounts required for submitting a return, along with other factors that could give rise to the need to file.

If your income falls below the threshold or no other rule applies to your situation, then you don’t have to file. Even if you don’t have to submit an income tax return, you may still want to, depending on your situation. Everyone else must file a return.

Does the IRS require you to file a return?

For the 2018 tax year, if you fall into one of the categories below, the law requires you to send in a return to the IRS:

  • If you are married and file a joint return with your spouse, are under the age of 65 and you make at least $24,000 a year
  • If you are married, filing a joint return with your spouse, one of you is over the age of 65 and you make at least $25,300 per year
  • If you are married, filing a joint return with your spouse, both of you are over the age of 65 and you make at least $26,600 a year
  • If you are single, under the age of 65 and made at least $12,000 last year
  • If you are single, over the age of 65 and made at least $13,600 last year
  • If you are married, filing separate returns and made $5 last year regardless of age
  • If you qualify as a widow or widower, have a dependent child, are under the age of 65 and made at least $24,000 last year
  • If you qualify as a widow or widower, have a dependent child, are over the age of 65 and made at least $25,300 last year
  • If you file as head of household under age 65 and made $18,000 last year
  • If you file as head of household over the age of 65 and made $19,600 last year

This may seem straight forward, but other rules may also apply to your situation. So, if you are one of the millions of Americans who remain unsure regarding your filing status or the need to file at all, you may want to make sure that you go to someone with experience in this area for assistance, especially since many of the tax law changes went into effect for the 2018 tax year.

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