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Yes you would be required to file a 1040 federal and state income tax return to report your income for the tax year.

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15y ago

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Related Questions

Do you have to pay taxes on income less than 600.00?

No, if you made anything less than $600.00 in one year then you do not need to pay taxes on that income. However, you should still file your taxes for that year.


Is tax payable on income an expense?

Taxes are payable on income less expenses


If you claim as a dependent, you will pay _______ income taxes?

Less


How long do you have to file any back taxes that where 100.00 or less in total income?

you don't have to file taxes if the total income was $100.00.


Do I have to report interest income less than 1 on my taxes?

Yes, you are required to report all interest income on your taxes, regardless of the amount.


Do I have to report interest income less than 10 on my taxes?

Yes, you are required to report all interest income on your taxes, regardless of the amount.


What is the propose of income tax brackets?

Income Tax brackets exist to apply more taxes (as a percentage) to those who have more money to pay, and less taxes to those who have less money.


Do I need to report interest income less than 10 on my taxes?

Yes, you are required to report all interest income on your taxes, regardless of the amount.


What are the requirements to e file your federal income taxes for free?

Your income must be 58000 or less to file your federal income taxes for free. If your income is higher then you cannot file them for free from e-file.


If your self employment income is less than expected do you pay less estimated taxes?

Yes


How does the graduated income tax help less fortunate?

i doesnt help the less fortunate. No taxes help them.


What should you look forward to not paying when you retire?

Payroll taxes (the major support for social security and a likely venue for future taxation). You may pay less income tax when you retire due to lower income. Federal retirees and some others usually do not pay state income taxes on their pensions.