0
Yes it is even possible that you would be required to file a tax return as long as you are alive.
Wiki User
∙ 14y ago
It depends on their income level. Retirees over 65 may have to file income tax if their income exceeds certain thresholds set by the IRS. Social Security benefits may also be taxable depending on the total income. It is recommended to consult with a tax professional for personalized advice.
Add your answer:
Earn +20 pts
What is the tax rate once some has retired?
The tax rate for retirees varies depending on their income and the specific tax laws of their country or state. Generally, retirees may be subject to income tax on their retirement income, such as pensions and withdrawals from retirement accounts. Some countries or states may have special tax provisions for retirees, such as lower tax rates or exemptions for certain types of retirement income. It is recommended to consult a tax professional or review the tax laws applicable to your situation for accurate information.
Does va tax retirees pensions?
Yes, Virginia does tax retirement income, including pensions. However, there are certain deductions and exemptions available for retirees in Virginia, so it's essential to review the specific circumstances with a tax professional to determine the tax implications.
Do retirees fall into the same tax brackets as everyone else?
Retirees are subject to the same tax brackets as everyone else based on their income level. However, the types of income retirees receive, such as Social Security benefits or retirement account withdrawals, may be taxed differently than regular wages or salaries. It's important for retirees to understand how their specific sources of income are taxed in order to effectively plan for their tax obligations.
Do i have to file taxes if i am a disabled person over age 65?
Whether a disabled person over age 65 needs to file taxes depends on their income. If their income meets certain thresholds, they may still be required to file a tax return. It's recommended to consult with a tax professional or use online resources to determine if filing is necessary.
Is a person over seventy five years of age required to file Federal Income tax?
It depends on their income. If their income exceeds a certain threshold, they are required to file a federal income tax return. It's recommended to consult with a tax professional for personalized advice.
Where can you file your income tax for free?
You can file your income tax for free with a online tax preparation like turbo tax, they will look over it before they file to make sure everything is correct.
If you have 3 children but no income for over a year Can you still file for taxes?
Yes you could still file a 1040 federal income tax return but if you do not meet the MUST FILE A INCOME TAX RETURN and you do NOT have any income.
What is the tax rate once some has retired?
The tax rate for retirees varies depending on their income and the specific tax laws of their country or state. Generally, retirees may be subject to income tax on their retirement income, such as pensions and withdrawals from retirement accounts. Some countries or states may have special tax provisions for retirees, such as lower tax rates or exemptions for certain types of retirement income. It is recommended to consult a tax professional or review the tax laws applicable to your situation for accurate information.
Do you have to file an income tax return over the age of 80?
There is no age limit on the requirement to file and income tax return. As long as you have more income than the filing threshold, you will be required to file a return, no matter what your age.
What is the amount of yearly income befor you have to file income tax?
Just over $8000.00 for a single.
Can a dependent file own tax return if claimed on parents' tax return?
Yes. The IRS has income guidelines for determining whether dependents are required to file tax returns. Generally, for 2008 income, dependents are required to file if single under 65 with earned income of over $5,450 ($5,700 for 2009) or if married under 65 with earned income of over $6,800 ($7,100 for 2008). Even if your income is below the level requiring you to file, you should file if income tax was withheld from your earnings in order to receive a refund of that tax.
Over how much taxable income must I have to file a tax return?
How much must I make in taxable income to have to file a return?
Who can file Mississippi tax lien?
The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.
Can you file income particle income tax?
Can you file a partical income tax and how many years you have too apply
Do you get fit back when you file taxes yes or no?
fit or (FIT) Federal income tax withheld if your income tax is completed correctly when it is file and IF you had an over payment of federal income tax on your 1040 income tax return then you would receive a refund of the over paid amount. You cannot expect to get a YES or NO answer to this question with the information that you have enclosed above.
In bankructy can you still file income tax?
In bankrupcty you MUST still file income tax
How soon can you file your 2011 income tax?
Now since 2011 is over.
