What would you like to do?
Yes and no. If you're being claimed as someone else's dependent, you're required to file a return if you're single under 65 with earned income over $5,700 or single over 65 with over $7,100 earned income. If you're being claimed as someone else's dependent, you're required to file if you're married under 65 with earned income over $5,700 or if you're married over 65 with over $6,800 earned income. If you're not being claimed as someone else's dependent you aren't required to file with less than $8,000 earned income UNLESS you're Married Filing Separately with income of at least $3,650. Even though you may not be required to file, you should file to get a refund if any federal tax has been withheld from your pay during the year. You also should file if you're eligible for certain credits, such as earned income, additional child tax credit, making work pay, government retiree, etc.
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What tax forms must be considered when filing a consolidated C corporation tax return when assets are less than 10 million dollars?
Answer That you are asking implies you may want to get some additional guidance. The 1120 series is used to file C corp returns. Each co in the group should have i…t's own entire pro-forma return made, and an elimination Co made on the Consolidating schedules for tax to produce one combined entitiy. Remember that the States may not allow, and others may require, consolidayed or Unitary filing. Dividends, ownwership percentages, intercompany transactions, accrual accounts and items that must be recorded to equity rather than deferred accounts, (the entire FAS 109 thing is for GAAP only), but can get a bit honery. Obviously, the specific schedules needed to be completed, and whether forms 1118, 4797, 5462, Schd. D, etc. etc., depend on the operations and accounting for the Co or group. Schedule M-1 (now actually M-3) needs to be paid particular attention to.
Well YOU never fill out a 1099, your receive them..and generally they report income yu need to include. And to cut to the chase....if the IRS says you don't HAVE TO file (but …can) who do yo think that would benefit, you or them?
You're not required to file a return for your Single filing status if your 2008 income is less than $8,950 (or less than $9,350 for 2009). Even though you're not required to f…ile, you should file if income tax was withheld from your earnings in order to receive a refund of that tax. Also, if you're eligible for certain credits (such as earned income), you should file even when not required
Maybe. For federal taxes, see Tables 1, 2, and 3 on pages 2, 3, and 4 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf For state taxes, refer to the instructi…ons that came with your state tax forms: http://www.taxadmin.org/fta/link/forms.html Of course, if you had any taxes withheld from your wages or from your other payments, you should file a tax return anyway since there is a good chance you will receive a refund.
Maybe. See Tables 1,2,and3 on pages 2,3,and 4 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf Even if the student does not need to file, he should file if he… had any income tax withheld from his wages or other payments in order to receive a refund.
Any self-employed person who earned more than $400 must file.
Maybe. For a federal return, see Tables 1, 2, and 3 on pages 2, 3, and 4 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf For state return requirements, consu…lt the instructions that came with your state tax forms or the web site of your state tax department. Even if you are not required to file, if you had any income tax withheld you should file to get a refund.
If you made less than five thousand dollars and are a full time student do you have to file a tax return?
To determine if you need to file a federal return, see Tables 1, 2, 3 on pages 2, 3, 4 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf Each state sets its own …rules which are usually different than the federal rules. See the instructions for your state tax forms or the web site of your state's tax department. If you are not required to file and you had any tax withheld from your wages or other payments, you are almost certainly entitled to a refund. You will not get the refund if you don't file.
Not if the 600 is all of your worldwide gross income and you are probably a qualifying relative dependent on another taxpayers income tax return you would not need to file a i…ncome tax return.
You are required to report ALL of your income, even barter income, regardless of the amount. For each of your different businesses (if you have more than 1), you… would file a separate Schedule C and Schedule SE. If you have more than $400 NET income from your schedule C, then it is Self-Employment taxable. Self-employment tax is merely both sides of FICA (aka social security/medicare); employee AND employer. Any net income (or loss) from the Schedule C is then reported on the first page of the 1040. All of your income and loss (W-2, 1099-INT/Div, Stock Sales, Business/Schedule C, Rental/Schedule E, etc) are added together to determine your AGI. Then your exemptions and deductions (standard or itemized) are factored in to give you your taxable income.
Technically you are not required to file if you earned that amount working for someone else (self employed you would be required to file). However you will want to file your t…axes for several reasons. First, there is the Making Work Pay credit that will allow you to receive up to $400 in a refund even if you did not have any taxes withheld. Second you will want to file to receive any money back that you paid into Federal taxes, you can not do that unless you file a return. Also, if you are over the age of 24 you may be eligible for Earned Income Credit which will allow you an additional refundable credit allowing you to receive a larger refund. H&R Block offers a 1040EZ starting at $39. Please go see a tax professional to obtain the best refund possible.
You may have to file but you may want to file. You will know the amount after you complete your 2009 income tax return. Go to www.irs.gov and use the search box type FREE TA…X HELP AVAILABLE NATION WIDE Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers. The IRS Volunteer Income Tax Assistance (VITA) Program offers free tax help to people who earn less than $49,000. The Tax Counseling for the Elderly (TCE) Program offers free tax help to taxpayers who are 60 and older. EITC-eligible taxpayers also can seek free assistance at the 400 IRS Taxpayer Assistance Centers nationwide. To assist EITC taxpayers, 167 IRS TACs will offer Saturday service on Jan. 30, Feb. 6 and Feb. 20
It could be possible that you would not be required to file a state income tax return if you made less than 600. Go to your state web site and find the filing requirements for… your state.
Yes this could be possible if this is self employment income. If you have any rental income you would be required to file a 1040 tax form along with the schedule E to report y…our gross rental income and expenses. A self employed taxpayer would be required to file an income tax return if business operation had a net profit of 400 and pay the social security and Medicare taxes that would be due plus any income tax that may be due after adding the net profit to all other gross income on the 1040 tax form and the amounts would be subject to income tax at the marginal tax rates. A dependent on another taxpayer income tax return with unearned income interest, dividends, capital gains, rental income, taxable social security benefits, unemployment compensation, gambling winning and misc income, etc of more than 950 must file an income tax return and report all worldwide income on the 1040 tax return The must file an income tax return requirement for the year 2009 would be in the 2009 1040 instruction book starting on page 7 through 9 and the book is available at the enclosed web site. Go to the IRS gov web site and use the search box for 1040 and choose instruction Filing Requirements Do You Have To File Click on the below related link
Why do governments charge money for e-filing tax returns when it costs them less than processing paper mail?
The government does not charge any money to e-file. The companies that fill out your forms are the ones that charge.