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No.. The amount you have to report now is 2400.00 for 2009. Anything over that amount must be reported.
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∙ 14y ago
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How old do you have to be to not file income tax?
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Do you have to pay income tax on money earned while working after age 72?
Sure and you already know that you will have to do this. Age is NOT one of the requirements of when a person MUST FILE A INCOME TAX RETURN. When you have the amount of taxable income for your filing status to meet the MUST FILE A INCOME TAX RETURN you can be any age as long as you are still breathing you will be required to file your 1040 income tax return correctly and pay the amount of income TAX that may be due on all of your gross taxable worldwide income.
What if your son is 17 and working can you still claim him and his income on your 2009 income tax?
Yes as long he and you meet the qualifications for you claim him as your qualifying child dependent on your income tax return. He would have to file his own income tax return reporting his own income and he would not be able to claim himself for exemption amount on his own income tax return.
Does a wife have to pay taxes on the allowance given monthly by husband?
If the monthly amount is supposed to be ALIMONY payments YES the monthly Alimony payment amounts would be taxable income to you on your own 1040 income tax return. If you are still married and filing a married filing joint income tax return all of joint worldwide income would be reported on the MFJ income tax return and the monthly allowance from your husband would just be and amount from the after income tax funds that were reported on the MFJ income tax return.
In bankructy can you still file income tax?
In bankrupcty you MUST still file income tax
What is the maximum income one can earn and still keep medicare?
For 2009 and 2010 ALL of your qualified gross earned income will be subject to the medicare insurance tax amount.
Can you still receive Medicaid while you still receive unemployment?
Yes, altho the amount of UIB might put you over the Medicaid income limit.
if you file 1099 do you still pay the same amount of tax at the end of the year?
Yes you will still owe money at the end of the year based on income received.
How old do you have to be to file income taxes?
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
How old do you have to be to not file income tax?
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Do you have to pay income tax on money earned while working after age 72?
Sure and you already know that you will have to do this. Age is NOT one of the requirements of when a person MUST FILE A INCOME TAX RETURN. When you have the amount of taxable income for your filing status to meet the MUST FILE A INCOME TAX RETURN you can be any age as long as you are still breathing you will be required to file your 1040 income tax return correctly and pay the amount of income TAX that may be due on all of your gross taxable worldwide income.
What if your son is 17 and working can you still claim him and his income on your 2009 income tax?
Yes as long he and you meet the qualifications for you claim him as your qualifying child dependent on your income tax return. He would have to file his own income tax return reporting his own income and he would not be able to claim himself for exemption amount on his own income tax return.
Stop paying income tax on social security?
You will NEVER be able to STOP paying income tax on your SSB amount as long as you are still breathing and you other sources of gross worldwide income and tax exempt interest and dividends that you are required to report on your 1040 federal income tax return.
Does a wife have to pay taxes on the allowance given monthly by husband?
If the monthly amount is supposed to be ALIMONY payments YES the monthly Alimony payment amounts would be taxable income to you on your own 1040 income tax return. If you are still married and filing a married filing joint income tax return all of joint worldwide income would be reported on the MFJ income tax return and the monthly allowance from your husband would just be and amount from the after income tax funds that were reported on the MFJ income tax return.
In bankructy can you still file income tax?
In bankrupcty you MUST still file income tax
You have two kids but no income can you still get earned income tax credit?
According to the Wiki on EIC you can get 40% of your income back up to $12,570 . Between $12,570-$16,420 you would get the max amount back at $5,028. Above that amount it goes down. This info was based on the 2009 tax year data. But to answer your question 40% of 0 dollars would be nothing. If you had an income of $1000 dollars you would EIC at $400 .
Can you file even if you had no earned income?
Yes. You have to pay taxes on both earned and unearned income. In tax language "earned income" means income from a job or self-employment. "Unearned income" is other income such as interest on your bank accounts or profits from investments. A sufficient amount of earned or unearned income requires you to file. Even if you do not have enough income to be required to file, you can still file. If you really want, you can even file if you have no income of any kind.
