What would you like to do?
If you have a return coming do you have to file?
A "return" is a set of forms, like Form 1040, which you fill out and send to the tax agency.
A "refund" is money that the tax agency sends you if you paid too much tax.
I assume you meant the question to be "If you have a REFUND coming do you have to file?"
The law requires anyone who has gross income over a certain amount to file a return whether or not they owe any additional tax and whether or not they have a refund coming. Someone may have told you that there is no penalty if they owe you money and you don't file. There is no civil penalty if this turns out to be true, but the law establishes certain criminal penalties (including up to a year in jail) that apply if you willfully fail to file a return. These penalties apply even if you have a refund coming. However, it is true that these are only enforced in extraordinary circumstances.
You may be wondering why the heck would they care if I don't want to claim my refund?
The nature of our tax system is that both you and your buddy might be working exactly the same job, exactly the same hours, and get exactly the same pay. You might be owed a refund, but your buddy might owe the taxman several hundred or even several thousand extra dollars.
The tax that's taken out of your pay does not represent the actual amount of tax you owe. It is at best a crude estimate based on the extremely limited amount of information that your employer gets based on what you wrote on your W-4 form (if you even bothered to file one). Your employer has no idea about all of the other factors in your life that determine exactly how much tax you really owe. He doesn't know how much you give to charity, how much tuition you can deduct, whether your parents can claim you as a dependent, whether you sell stuff for a profit on eBay, whether you have a second job or a summer job somewhere else, whether you put money into an IRA, whether you are paying alimony to an ex-wife (or receiving it from an ex-husband), whether you have a handyman gig on the side, whether you are getting a bit of interest from your savings account at the bank, and a million other factors that go into determining how much tax you really owe.
And the IRS doesn't really know whether you are entitled to a refund or you are supposed to be paying them more money. Sure, some of your income is reported on a W-2 or a 1099, but there are a lot of sources of income that are not, but you still have to pay tax on them. And they certainly don't know stuff like how many children you are supporting. So they ask you to fill out a form every year, where you show your calculations to determine how much tax you should owe and you sign a statement under oath that this is an accurate representation of your income and your taxes.
But, seriously, how do you know that you have a refund coming if you haven't filled out your tax forms??? And if you have filled them out to see that you have a refund coming why don't you just send them in and get yourself some money from the government? If you don't need it, there are a lot of charities you could help out. If you don't file, you will not get the refund you have coming to you. (Most state tax forms even have a list of charities that you have your refund sent directly to.)
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How Marriage Affects Return You can check with www.IRS.gov, but it will affect your return. You get better tax bracket treatment and can have higher standard deductions…, contributions to various retirement accounts, etc. Filing married has many, many tax advantages!
Sure. There probably isn't a lot of income to report though.
If you have NO income, then no. ANSWER: If you are subject to the Personal Income Tax Law and liable for a tax then yes you do have to file a valid return, ev…en if no income was earned. Income is what is used to measure how much is owed and the tax collections agencies can not know how much you owe or even that you don't owe until you have filed the necessary forms informing them of your no income status. Don't take anybodies word on this. Not mine, not TaxmanAE's, read the law yourself. You are presumed to know the law and since it is your tax liability in question it is you that is expected to know the law and you won't be able to argue that an incompetent tax expert gave you bad advise in a tax court later and God forbid in a criminal court even later. Learn the law!
Click on the below related link for the form 4868 and instructions.
Your accountant should be able to give you this information and a copy of your completed income tax return. Other wise you would have to get the copy of the income tax return …or information about your possible filed income tax return by your accountant from the IRS. Go to the IRS gov web site and use the search box for Get A Copy of My Return Instructions for how and when to request a copy of your tax return or a tax return transcript Click on the below related link
You can find the mailing address on the last page of the instruction book for the 1040 tax form that you are using. Go to the IRS gov web site and use the search box for 1040 …Click on the below Related Link
You need to file return because government provides many services not only to you but also to many other people. For example like electricity on roads,water, safeguards from t…errorists activities and many other things. if you will not pay tax then how will be they able to finance it. Be a good citizen and file your income tax return.
You can file your forms directly with the IRS if you are comfortable doing it yourself. If you need your hand help companies such as H & R Block will walk you thru it.
No. Unless they are still in the recycle bin, then you can restore them.
Simple Common Sense: The only time you actually do WANT to file is when the IRS says you don't have to!They don't do that because it's good for you. They do it because it is… more likely to be good for them. Certainly if you don't have to file, NOTHING BAD, in fact only good things, can happen by doing so. Federal Taxes are the same throughout the country. State tax laws are specific to each area. Whether you have to file a tax return (or pay tax) depends, in part, on your filing status, deductions, amount & type of income. There are no such things as "start and stop" ages, not having to pay because of retirement or on social security or working from home or a student. It is all addressed as a matter of "how much TAXABLE income." (Note: working isn't relevant either, as many people who don't work or are retired, or disabled, or old, or young, or in school, have income from many sources: savings, investments, etc. TAXABLE income is different than what you may otherwise think of as income. In most circumstances, you have to do many of the calculations needed to file a return, just to determine what taxable income may be). Likewise, there are no special or fixed rates for retired, student, doctor, sanitation worker, President, convict...whatever. The amount of taxable income after applicable deductions and adjustments determines the rate applied to your particular situation. The rate, as well as the amount, you pay changes as the amount of income does. You must file a tax return if you had net earnings from self-employment of $400 or more. This is your total self-employment income less the expenses paid in operating your trade or business, multiplied by 92.35%. If you weren't self-employed (paid on a 1099 or ran your own business) then you would always want to file a return to claim the amount withheld and shown on your W-2, which with lower incomes will always be refunded to you. If you are an individual who may be claimed as a dependent on another person's return, you are subject to specific filing requirements. Refer to the instructions in your tax package or refer to Publication 929, Tax Rules for Children and Dependents, or Publication 501, Exemptions, Standard Deduction, and Filing Information, for the filing requirements for dependents. All available at www.IRS.gov You must file a tax return if you received any amount of advance earned income credit payments from your employer during the year, or if you owe any taxes, such as:social security tax and Medicare tax on tips or group life insurance,alternative minimum tax,tax on qualified retirement plans including an Individual Retirement Account, or other tax-favored account,tax from recapture of an education credit, investment credit, low income housing credit, federal mortgage subsidy, qualified electric vehicle credit, or the native American employment credit. Generally, you must file a tax return if you are a nonresident alien with income from sources in the United States. For more information on nonresident aliens, select Topic 851 at the IRS website. Even if you are not required to file a tax return, file a return BECAUSE MANY, LOW INCOME PEOPLE HAVE MANY BENEFITS COMING THAT ARE KEYED TO FILING A RETURN. (Like stimulus checks). Also, the Statute of Limitations for when the IRS can no longer ask you questions about your affairs for a year only STARTS to run when a return is filed. Not filing, and they can bug you, (and assess a tax) for forever!
Yes, both are required by the IRS
Depends on where you live and if you're getting a refund or not. The tax instructions booklet should have a list.
eveyone who earns income above a certain level has to file a tax return
The IRS has a web page that explains exactly what to do. Different tax forms require different amendment forms. If you are talking about a state tax filed, go to the state w…ebsite.
One can file a tax return with the KRA online using the tax payer software (TSW), to do this the applicant will need form P9A from employer, employers pin if not already on th…e form P9A, financial statements, withholding tax certificate (W44).