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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 eligible for certain credits (such as earned income), you should file even when not required
What else can I help you with?
Can you received 2 checks from the IRS for income tax?
No not in and for the same years income tax return.
Can you file taxes at 17 years old?
Yes you can file a federal income tax return and if you had a employer and you were an employee if any federal income tax was withheld from your gross earnings wages it is possible that you could get a refund of some or all of the FIT that was withheld. It is possible that a taxpayer can meet the MUST FILE A FEDERAL INCOME TAX RETURN at any age. If you are a dependent on an another taxpayers income tax return and unearned income of more than 950 and would be required to pay some federal income tax on the amount. Or if your are a self employed taxpayer and have a NET profit from your business operation it is possible that you would be required to file a 1040 Federal income tax return.
Can you still income average over 5 or ten years on your federal income tax return?
No...ended years ago..I think around 1988.
What is net income tax liability?
what is net income tax liability? Adjusted net income is the excess of gross income for the tax year (including gross income from any unrelated trade or business) deter­mined with certain modifications over the total deductions (including deduc­tions directly connected with carrying on any unrelated trade or business) that would be al­lowed a taxable corporation determined with certain deduction modifications. Gross income does not include gifts, grants, or contributions received by the private operat­ing foundation but does include income from a functionally-related business. Gross income and the total deductions allowable from that income will be figured as they are normally figured for income tax purposes except as otherwise pro­vided. For figuring adjusted net income, there will be no exclusions, deductions, or credits un­less provided under Income modifications and Deduction modifications. Amounts received by the foundation in tax years beginning after 1969 representing repay­ment of principal on loans made in tax years before 1970 are not includible in gross income. However, payments of interest on those loans are includible in gross income.
How far back can the IRS audit a business?
Generally, the statute of limitations on assessment of a tax deficiency is three years from the date a tax return was due UNLESS the deficiency was substantial, meaning a return failed to include 25% or more of the gross income it should have, in which case the statute of limitations extends to six years. And there's no statute of limitations on a taxpayer who was required to file a return and failed to do so.
Are nineteen years old single and a full-time student Is Janice eligible for the making work pay credit on her tax return?
NO a dependent on another taxpayers income tax return would NOT qualify for the MWPTC on her income tax return.
If you are seventy years old and your children pay most of your expenses do you still have to file income tax forms?
Probably not. Generally whether have you to file an income tax return depends upon your filing status and your income. Single age 65 or older is required to file when gross income is at least $10,300 in 2008 ($10,750 in 2009). Whether or not you live with your children, they could claim you as a dependent if your gross income is less than $3,500 in 2008 ($3,650 in 2009).For more information, go to www.irs.gov/formspubs for Publication 501 (Exemptions, Standard Deduction, and Filing Information).
Must an 88 year old file taxes?
If you are unmarried and at least 65 years of age, then you must file an income tax return if your gross income is $11,500 or more. However, if you live on Social Security benefits, you don't include this in gross income. If this is the only income you receive, then your gross income equals zero, and you don't have to file a federal income tax return. But if you do earn other income that is not tax-exempt, then each year you must determine whether the total exceeds $11,500. If you are married and file a joint return with a spouse who is also 65 or older, you must file a return if your combined gross income is $22,400 or more. If your spouse is under 65 years old, then the threshold amount decreases to $21,200. Keep in mind that these income thresholds only apply to the 2013 tax year, and generally increase slightly each year.
How do you find out last years income?
Look at last years return.
Someone asked me what an increase in yearly income mean?
More gross income for the year than what was received in the previous year or years. That things could be improving and more money is being made than what was made in the previous years. That the individual taxpayer has a increase in pay and could possible have more net take home pay in the paycheck after all of the necessary withholding is deducted from the increased gross earning, wages for the year. More income that will have to reported on the federal income tax return for the year.
Can you received 2 checks from the IRS for income tax?
No not in and for the same years income tax return.
If you are over 80 do you have to pay income taxes?
You can be over 100 years of age and could still meet the requirements of having to file an income tax return. Age does not have anything to do with the requirement to have to file an income tax return.
Can you file taxes at 17 years old?
Yes you can file a federal income tax return and if you had a employer and you were an employee if any federal income tax was withheld from your gross earnings wages it is possible that you could get a refund of some or all of the FIT that was withheld. It is possible that a taxpayer can meet the MUST FILE A FEDERAL INCOME TAX RETURN at any age. If you are a dependent on an another taxpayers income tax return and unearned income of more than 950 and would be required to pay some federal income tax on the amount. Or if your are a self employed taxpayer and have a NET profit from your business operation it is possible that you would be required to file a 1040 Federal income tax return.
Can you still income average over 5 or ten years on your federal income tax return?
No...ended years ago..I think around 1988.
What is net income tax liability?
what is net income tax liability? Adjusted net income is the excess of gross income for the tax year (including gross income from any unrelated trade or business) deter­mined with certain modifications over the total deductions (including deduc­tions directly connected with carrying on any unrelated trade or business) that would be al­lowed a taxable corporation determined with certain deduction modifications. Gross income does not include gifts, grants, or contributions received by the private operat­ing foundation but does include income from a functionally-related business. Gross income and the total deductions allowable from that income will be figured as they are normally figured for income tax purposes except as otherwise pro­vided. For figuring adjusted net income, there will be no exclusions, deductions, or credits un­less provided under Income modifications and Deduction modifications. Amounts received by the foundation in tax years beginning after 1969 representing repay­ment of principal on loans made in tax years before 1970 are not includible in gross income. However, payments of interest on those loans are includible in gross income.
When seventy years old do you still pay Taxes years old?
No as a senior citizen I am exempted from paying Income tax. The above answer is NOT correct. Corrected answer below 07/09/2010 YES. 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.
Your parents are 84 years old on Social Security both take IRA of 2000.00 a year for a total of 19400.00 per year do they need to file income tax return?
If they cannot be claimed as dependents and the amount they took out of their IRA was greater than or equal to their Required Minimum Distribution amount, then they do not have to file a federal return if their gross income was under $20,000. But they had no other income? No pension? No interest on bank accounts? State requirements vary by state. They may or may not have to file a state return.
