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What else can I help you with?
What age do you no longer owe income tax?
Age is not a factor. If you have income then it is taxed.
At what age does a person no longer have to pay federal income taxes?
No such thing...young or old...the tax is based on income and your age is irrelevant.
Do 80 year olds have longer to file income tax?
There is no special provision for 80-year-olds to have a longer period to file their income tax returns. The standard deadline for filing taxes applies to all individuals, regardless of age. It is important to file taxes on time to avoid any penalties or interest charges.
What age does earned income credit stop?
A person no longer qualifies for the Earned Income Tax Credit after age 65. The minimum age requirement is 25.
What is income tax on 32.00?
Income tax on $32.00 depends on the tax rate applicable in your jurisdiction. For example, if the tax rate is 10%, the income tax would be $3.20. Since tax rates vary based on income brackets and local regulations, it's important to check the specific rate that applies to your situation.
What is the penalty for Cashing in traditional IRA at age 66?
If you cash in a traditional IRA at age 66, you will not face the early withdrawal penalty of 10% that applies to withdrawals made before age 59.5. However, the withdrawal will be subject to income tax as it will be considered taxable income for the year in which you make the withdrawal.
At what age do you stop paying income tax?
There is no age limit on paying income taxes. It is based on your income. http://taxresolutionaries.blogspot.com
What is taxed in the income tax?
For most purposes the income tax rate is 5.3% in Massachusetts. However, a higher rate applies for capital gains and other large earnings.I generally refer to http://www.state-income-taxes.com for basic information on state income tax rates.
Do all states have fica tax?
It's a Federal program and just like federal income tax, it applies the same everywhere.
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 income tax rate in Massachusetts?
For most purposes the income tax rate is 5.3% in Massachusetts. However, a higher rate applies for capital gains and other large earnings.I generally refer to http://www.state-income-taxes.com for basic information on state income tax rates.
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.
