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While the minimum income - however earned - is $600, you don't actually owe any tax until a much, much higher amount. However, you should always file your return, even (or especially) if you have no tax payment obligation or even requirement to file. Simply, many benefits one receives, Earned income Credit, the recent Tax Stimulus Payment to name a few, require a return to have been filed. Do it. Additionally, most tax return preparers have hundreds of stories of people not filing and actually having substantial refunds coming...some of which were lost because the return needed to claim them was filed too late! Appealing to your common sense: Especially if you owed them no $ and even more true if they actually owe you -- do you think the IRS would allow you to NOT file a return if it wasn't actually good for them!
What else can I help you with?
Is federal income tax refunds taxable?
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
Will Georgia tax your Federal rebate money?
No. Your federal tax is not deductible from your income in determining state taxable income, hence any refund of it isn't included as taxable income.
What does ytd fed taxable mean on a check stub?
Year-to-date income that is taxable as federal income tax.
Is a rebate taxable income?
None of the federal rebates that you may have received would be taxable.
When you file federal taxes what is considered taxable income?
SSI
Is federal income tax refunds taxable?
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
Will Georgia tax your Federal rebate money?
No. Your federal tax is not deductible from your income in determining state taxable income, hence any refund of it isn't included as taxable income.
What does ytd fed taxable mean on a check stub?
Year-to-date income that is taxable as federal income tax.
What is taxable income, and where can I find it ?
Taxable income is the income your taxes are based on in your federal and state income tax returns. This website explains it. en.wikipedia.org/wiki/Taxable_income
What does not fit taxable mean on a check stub?
Federal Income Tax (FIT) Taxable
Is a rebate taxable income?
None of the federal rebates that you may have received would be taxable.
Do you have to pay federal taxes?
If you have taxable income, yes.
Do you have to pay taxes on diusabilaty?
If the total amount of disposable income you receive exeeds the the minimum taxable income threshold, then yes of not, then no.
Is maternity leave considered taxable income?
Maternity leave pay is generally considered taxable income, subject to federal and state income taxes.
What is the minimum income threshold that must be reached for federal taxes to be deducted from your earnings?
The minimum income threshold for federal taxes to be deducted from your earnings is 12,400 for a single individual in 2020.
When you file federal taxes what is considered taxable income?
SSI
What is the minimum amount of income you need to earn in order to be subject to taxation?
The minimum amount of income you need to earn in order to be subject to taxation is determined by the tax laws of the country you live in. This amount is known as the "tax threshold" or "taxable income threshold." If your income exceeds this threshold, you are required to pay taxes on that income.
