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yes, unless you are over 65-70? years old. The amount you pay, or not, or even get refunded is irrelevant to the filing requirement. It is based on the amount of income. Also, even if you don't have to file, or especially if you don't have to, there are very good reasons to do so.
What else can I help you with?
How do I figure the amount of retirment income I need?
Retirement income is usually estimated as a percentage of your income from your working years. Normally 80% of your income is needed to maintain your standard of living
Are closing adjustments needed for the balance sheet?
Yes, closing adjustments are needed for the balance sheet because they increase retained earnings (in stockholders' equity) by the amount of net income or decrease it by the amount of net loss. They also decrease retained earnings by the amount of any dividends declared. Closing adjustments affect the income statement by reducing all income statement accounts to zero.
What are the advantages of a stated income home equity loan?
The advantages of a stated income home equity loan are: stated income loan applications require less paperwork and speed the lending process. Using these applications also means no written verifications are needed for income and no tax returns.
What percent of his net income can he spend on the other things?
To determine what percent of his net income he can spend on other things, you need to first identify his total net income and the amount allocated for essential expenses. Subtract the essential expenses from the net income to find the remaining amount. Then, divide that remaining amount by the total net income and multiply by 100 to find the percentage. For a precise answer, specific figures are needed.
Which of the following would be a good name for the function that takes how hungry Christine is and returns the amount of food she eats for lunch?
Which of the following would be a good name for the function that takes the length of a reading assignment and returns the time needed to complete it ?
What are compensating variation and equivalent variation curves?
Compensating variation and equivalent variation curves show the relationship between changes in income and the associated changes in consumer surplus. Compensating variation measures the amount of income needed to keep a consumer at the same utility level after a price change, while equivalent variation measures the amount of income needed to achieve the same utility level as before the price change. These curves help analyze the welfare impact of price or income changes on consumers.
What is the deadline for filing individual income tax returns?
Understanding, filing and paying are 2 different things. You must pay, through withholding or estimated payments, through the year (basically at least quarterly). The amount you have paid in MUST meet certain thresholds or you will pay a (frequently substantial) penalty and interest later. Returns - the filing - squaring up your estimated payments to your actual amount needed, is due - as always April 15 (+a day for legal holidays weekends or such if needed). Extensions of when to file are easy and automatic, for up to 6 months (again when to file, not to pay...any underpayment will be charged even with an extesnion of when to file).
What are the effect of income on conumer behavior?
The effect of income is a direct factor in consumer behaviors. Without an ample amount of income being provided the consumers cannot possible consume as much as needed or wanted therefor their behavior changes, less is spent, and less is bought.
What is the max earned income credit?
You would be the only one that would have and know all of the necessary information that would be needed to find the numbers that you need. Using the 2009 federal 1040 income tax return August 3 2010 Just a guess filing status Single qualifying earned income amount from the worksheet is 5951 the maximum EITC amount would be 457 when you are qualified to claim 1 exemption for your self on your 1040 income tax return for the EITC amount. Go to the IRS gov website and use the search box for EITC Home Page It's easier than ever to find out if you qualify for EITC The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit. To qualify, taxpayers must meet certain requirements and file a tax return, even if they do not have a filing requirement.
How much money do you get for your son on you taxes?
For each qualifying exemption on your federal 1040 income tax for the tax year 2010 you will get a amount of 3650 free of federal income tax subtracted from your adjusted gross income amount before you will be able to determine your taxable amount of income that will be subject to the federal income tax rates. So if your marginal income tax rate is 10% that would be a 365 reduction amount of any possible federal income tax liability you may have for each exemption that you qualify to claim on your 1040 income tax return before you arrive at the line on your 1040 income tax return to determine your taxable income amount on your 1040 tax return. Any other amounts earned income tax credit, child tax credit, etc. you will not know these correct amounts until you have completed your federal income tax return correctly. You are the only one that would have all of the necessary information that will be needed for this purpose.
What are the four requirements needed for an amount to be regarded as gross income?
For an amount to be regarded as gross income, it must meet the following four requirements: it must be received in a form that is realizable, such as cash or property; it should be derived from a source that is not exempt from taxation; it should result from an economic benefit or gain; and it must be legally recognized as income under applicable tax laws. These conditions ensure that the income is both tangible and subject to taxation.
What are the factors on which the figure of merit of galvanometer depends?
The figure of merit of a galvanometer depends on its sensitivity, which is the amount of deflection for a given current; its damping, which is how quickly the needle returns to zero position after being deflected; and its resistance, which affects the amount of current needed for deflection.
