If you must file taxes after reaching a Married filing joint Income of 20.900 is that amount adjusted gross or gross income?

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Who can file a joint income tax return?

In order to file a joint return, the parties must be married at the end of the year, living together in a recognized common law marriage, or married and living apart but not legally separated or divorced. You can also file a joint return for the year in which your spouse died. But that is only the ( Full Answer )

What is tax bracket for adjusted gross income of 209836?

It depends on your filing status, (and perhaps other things), but below is for each. Obviously, many other things are due on the income other than Federal INCOME tax too.. (Upon review, it seems to lose format when posted, the link will get you to the tables which are clearer).. Schedule X - Singl ( Full Answer )

What is the difference between Adjustable gross income and taxable income?

Taxable Income is your adjusted gross income minus your exemptions and either itemized or the standard deduction.. ANSWER: . The Internal Revenue Code defines taxable income as: Gross income minus deductions allowed (other than the standard deduction). In the case of the individual who does no ( Full Answer )

What amount can a couple make to get a 2008 tax rebate in May - is this adjusted gross income or total income?

Stimulus Act rebate checks will only be sent to those filing a 2007 tax return IR 2008-18; Fact Sheet 2008-15; Fact Sheet 2008-16; Treasury Fact Sheet IRS has issued a barrage of information explaining how individuals will receive the rebate they're entitled to under the Economic Stimulus Act of ( Full Answer )

Who must file income tax?

Go to the IRS gov website and use the search box for Do You Need to File a Federal Income Tax Return? You can also go to the Do You Have to File section of the Form 1040 Instructions, Form 1040A Instructions, and Form 1040EZ Instructions to determine if you are required to file a tax return. You mu ( Full Answer )

Income tax after a divorce. Joint or separate filing?

If you are legally separated or legally divorced on the last day of the year, you should file as single or head of household. You should NOT file as Married Filing Jointly or Married Filing Separately.

No income do you have to file tax return?

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, even 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 yo ( Full Answer )

Is the 250000 Obama tax hike on gross or adjusted gross income?

Adjusted Gross Income Source: U.S. Tax Policy Center Last paragraph states: "We estimated the cost of Senator Obama's proposals assuming that the Social Security proposal would impose a 2 percent income tax surtax on adjusted gross incomes over $250,000 and a 2 percent payroll tax pai ( Full Answer )

Do I file a tax return if I only made 8000 gross income and I'm single and 21 years old?

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 file, you should file if income tax was withheld from your earnings in order to receive a refund of that tax. Also, if you're ( Full Answer )

How much gross income do you need before you can file taxes?

Self-employed, any age: $400 Children and Teens classified as a dependent: $5,700 Single, under 65: $9,350 Single, over 65: $10,750 Married, filing jointly, both spouses under 65: $18,700 Married, filing jointly, one spouse over 65: $19,850 Married, filing jointly, both spouses ove ( Full Answer )

Do I have to to file income tax returns for state of Maine if i filed a federal tax return and and have 0 adjusted gross income?

If you are a residentof Maine who is required to file a federal income tax return, you must file a Maine income tax return. If you are not required to file a federal return, but do have income subject to Maine income tax resulting in a Maine income tax liability, a Maine return must be filed ( Full Answer )

If a non resident must pay tax on the gross amount of a sale of a house in NJ then is it necessary to file NJ income tax to obtain any refund even though the seller lives in another state?

Sale of property located in New Jersey is subject to New Jersey income tax whether the seller is a resident of NJ or not. Non-residents use Form NJ-1040NR to file their New Jersey tax returns. http://www.state.nj.us/treasury/taxation/prntgit.shtml#git If you have a NJ tax liability, you will ( Full Answer )

What is the difference between adjusted gross income and modified adjusted gross income?

Adjusted gross income is the number on the last line of the first page of Form 1040. The tax law has many different definitions of modified adjusted gross income in many different contexts. For example, there are different definitions of MAGI for determining whether you can deduct a traditional I ( Full Answer )

Why are gross income and adjusted gross income different?

Gross Income- The Internal Revenue Code defines gross income as "except as otherwise provided..., all income from whatever source derived." The "except as otherwise provided" refers to exclusions. Adjusted Gross Income (AGI)- is an important subtotal that serves as the basis for computing percentag ( Full Answer )

If you're on social security disability and your gross income is 21600 do you have to file a tax return?

Social Security disability insurance (SSDI) is available to an ill/injured worker who hasn't been able to work for more than a year because of the illness/injury. Generally, if SSDI is your only source of income, they probably aren't taxable. The rules for the taxability of SSDI benefits are the sa ( Full Answer )

Must both spouses sign income tax refund check if filed joint?

If you have an account with fifth third bank and a customer in good standing with your spouses signature! They wont deposit it if her or his name is not on the account! You are considered a risk and a crook after 20 years of being a customer!

WHAT IS Highest gross income before having to file?

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 ( Full Answer )

What income do you not file income taxes?

NONE. No INCOME. -0- ZERO INCOME. For sure you would NOT be required to file a 1040 federal income tax return. Actually, there is a federal minimum number below which you are not required to file any tax returns. State requirements also vary. For instance, in NH there is no income tax other than a ( Full Answer )

What is the difference between adjusted gross income and gross income?

Gross income on the 1040 income tax return is the total amounts of all of your worldwide taxable income added together that is on page 1 line 22 Total Income of the 1040 tax form. From the line 22 total taxable income you can have some amounts from line 23 through line 35 that can be used to reduc ( Full Answer )

Not filing for income taxes?

Not filing your income taxes will have you facing a penalty by the IRS. According to legal zoom: "Well, you end up paying a penalty on the amount you owe at 5% per month (4.5 % for not filing and 0.5% for not paying). The total penalty for failure to file and pay can eventually add up to 47.5% (22. ( Full Answer )

Do you file income taxes even if you had no income?

There is no need to file an income tax return if you had no income. That said, there was a year when senior citizens could claim a tax credit by filing even if they had not income so your question is valid. For 2010 though, as the rules stand today, you don't need to file.

At what gross income do you pay income tax on?

You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation for the numbers that you are looking for. After you complete your 1040 federal income tax return correctly to your TAXABLE ( Full Answer )

What is the formula for Adjusted Gross Income?

Start with all of your total worldwide income then subtract the adjustments to your income to come up with your adjusted gross income on the 1040 tax form line 37 and 38. If you can qualify for some of the adjustments to income on the 1040 tax return those amounts would reduce you're your total inco ( Full Answer )

Do you have to file federal income tax?

You would be the only one that will have all of the necessary information to determine this answer. 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 ( Full Answer )

What is the minium amount of income for filing income taxes?

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 th ( Full Answer )

What is e filing of income tax?

It means that the taxpayer submits their forms to the IRS via electronically, like a computer, and does not mail them in using the Post Office. Since so many people are sending in their tax forms by electronic means, the IRS will no longer send out books in the mail in January. You can still get tho ( Full Answer )

Can you file income taxes if you are a student?

"Can you?" or " Must you?" The answer to "can you?": Many people will file an income tax return even though the income on the return was below the filing requirement. Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld. The an ( Full Answer )

Is there a penalty for not filing income taxes?

Yes. Most countries would impose a penalty for this. Not paying taxes would equate to tax evasion. Tax evasion has several penalties. At best, you'd be forced to file taxes for the years that you did not. In worst cases, you would be forced to pay the taxes that you would have owed (i.e, the fe ( Full Answer )

When must you file your federal income tax?

You can file for federal income tax anytime before April 15th 2011, which is the last date for filing federal tax return. However, If you feel that you need more time for tax filing, then you have the option of tax extension. Tax extension grants you 6 months of extension for tax filing but that doe ( Full Answer )

Must you file taxes even though you made no income?

If you filed a return last year you should file a return this year. It is only an information return so the IRS will know that you had no taxes due. If you do not file then they may assess you for an estimated amount based on the previous year's return. ans Simple Common Sense: It really ma ( Full Answer )

Can you file income tax on your bankruptcy?

State Income Tax Claims, Federal Tax Claims, and Real Estate Taxes must be included in a bankruptcy filing. Income tax claims that are less than three years old will usually be consolidated with other debts and paid over three to five years in a Chapter 13. Depending upon income and assets, inco ( Full Answer )

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.

What is the deadline for income tax filing?

The deadline this year was to be April 15. However, the IRS extended this deadline to the 18th this year. It is possible to get an extension that could allow you to file as late as October.

Where can you file your income tax?

You can file your income tax online both free and for a fee depending on the services that you want. Also, there are companies that will do it for you in person.

How do you file your income tax married jointly?

You can file your federal taxes jointly if you are married. Even if your spouse is unemployed, filing jointly means he or she is still responsible for any outstanding taxes due should you not pay.

Who must file an individual income tax return?

If you are earning money from either a job, wages of some kind, or the government, you must file a individual income tax return. There are factors though that say if you do not make a certain amount that it is not needed to be taxed.

What if you don't file income taxes?

Eventually the IRS (or state tax board) will notice, do your taxes for you (usually extremely badly - in their favor, of course), and send you a letter demanding payment of the taxes along with interest and penalties.

How does one calculate adjusted gross income?

You can learn how to calculate adjusted gross income (AGI) by subtracting the amounts listed in lines 23-35 on your 1040 tax form from your gross income. You can learn more about how to calculate AGI by visiting the LearnVest website. Once on the page, scroll to the bottom and click on "Knowledge Ce ( Full Answer )