How much do you need to make to get tax return?

Answer 1

You need to file a tax return if the amount of withholding does not agree with the amount of taxes you need to pay. It does not matter how much you made. You also need to file, even if no taxes were withheld, and if you owe no taxes, if you can claim the Earned Income Credit, and you want to get some money back.

Every situation is different, so it is impossible to give more than this generic answer. If you had taxes withheld, and you do not owe taxes, then you will not get a refund, or be able to claim the Earned Income Credit, if you do not file. If you owe taxes, and you do not file, the IRS will come after you and assess penalties and interest - and you could even go to jail. Even if you do not owe taxes, but taxes were withheld and you do not file, the IRS can come after you for failure to file, and they will recalculate what you owe based on the worst case interpretation of your situation so, in general, you must always file a return, at least to report your proper filing status and deductions.

The previous answer is a perfect example of why you need to understand what it is your asking, and probably find out the real basis for what you need to know to make your own decision - or you may find a totally foolish - certainly costly and even criminal reply - gives you direction. As the Q has been addressed hundreds of times before, is a standing answer in this database you may want to consider how you do your research too!

You file a tax return. You may, or may not, get a refund of tax you have previously paid in (by payroll withholding or other means). The amount you have paid in is totally under your control, and if it is paid over by your employer from your pay can vary from 0 to 100% of that pay. It really has no bearing on if you file a return.

Simple Common Sense:

It really makes no difference since 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!

You can file for free at the www.irs.gov site too! See http://www.irs.gov/pub/irs-pdf/i1040ez.pdf