{{ wiki.title }}
{{ wiki.title }}
Law & Legal
  1. How to Qualify for a Medicaid Waiver
  2. Six Reasons Someone May Be Placed Under a Guardianship
  3. What Can Be Included in a Will?
  4. How Much Should You Put as a Down Payment on a House?
  5. 3 Assets That Can Fund a Trust
  6. Why You Should Have a Life Insurance Policy
  7. Is Real Estate a Good Financial Investment?
  8. S-Corp vs. C-Corp
  9. 5 Reasons Someone Might Disinherit a Child
  10. Benefits of a Testamentary Trust
  11. Steps on How to Sign Up for Life Insurance
  12. What is the Estate Administration Process?
  13. What Types of Government Benefits are Available for the Elderly?
  14. What is the Job of an Executor?
  15. What is a Simple Estate Plan?
  16. Why You Should Have a Will
  17. 3 Things You Need to Prepare Your Taxes
  18. Tips for Planning an Estate
  19. What is Electronic Notarization?
  20. Are There Requirements to Qualify for Medicaid Home Care?
  21. 3 Benefits of Tax Planning
  22. 3 Things to Know About Retirement Planning
  23. How Does Mental Illness Impact Your Estate Planning Process?
  24. What is a Lawsuit for Wrongful Death?
  25. What is The Tax Code?
  26. Guide to Become a Tax Advisor
  27. Does My Parents' Divorcing Impact My Inheritance?
  28. Guide to Understand When You Should and Shouldn't Buy a Home
  29. 3 Things a CPA Can Help With
  30. Tips to Maximize Your Tax Refund
  31. 3 Reasons You Should Have a Tax Accountant on Retainer
  32. Do Self-Employed Individuals Get Taxed Differently?
  33. What are Unclaimed Funds?
  34. 4 Things to Know About Surrogate's Court
  35. 3 Reasons Having Advance Directives is Important
  36. What are Estate Taxes?
  37. What is The Estate-Tax Exemption?
  38. Who Has to File Taxes?
  39. 3 Reasons You Should Have a Trust Protector
  40. Understanding Spousal Impoverishment
  41. Who Files Taxes For Businesses?
  42. Should I File My Taxes Using Turbo Tax?
  43. 3 Ways to Protect Against Financial Exploitation
  44. Who Qualifies for a Special Needs Trust?
  45. Guide on How to Write Off Business Expenses When Doing Your Taxes
  46. 3 Things Every Small Business Should Know
  47. Why Updating Your Will is Important
  48. What is the Probate Journey?
  49. What Happens if I Don't File My Taxes?
  50. Tax Accountant vs CPA
Who Has to File Taxes? {{ currentPage ? currentPage.title : "" }}

Filing a tax return may not be your favorite thing to do, but if you’re an American citizen with an income of some sort, it’s likely something you have to do. Of course, not everyone needs to file a tax return. Some people are exempt from the yearly tax filing ritual, and special circumstances can also mean you don’t need to file taxes.

If you’re wondering where you fit in, below are some general guidelines to help you know who has to file taxes:

Income Requirements

Internal Revenue Service (IRS) Publication 501 is the document that outlines who has to file a tax return since Publication 501 lists the threshold for income needed to require a tax return. Beyond that, Publication 501 also provides information about certain deductions and dependents.

Your filing status plays a part here in that the income threshold changes based on whether you are a single tax filer, a married taxpayer filing a joint return or filing as head of household. It’s also worth noting that the threshold for income can change from year to year, so you should work with a local tax professional to learn the current requirements.

In New York City, for example, you could work with a Brooklyn tax preparation company that can also give you location-specific information as it pertains to New York. A Brooklyn tax preparation company will have not only federal tax filing requirements available but also state income tax requirements. Maximize your returns with ease. Click here to visit this website for top-notch Brooklyn tax preparation services – Your financial success starts now.

Certain Minors

A minor in the United States is defined as someone who is under the age of 18. If a minor earns an income, that income may be exempt from tax withholding. This is usually the case when a minor can be claimed as a dependent on someone else’s taxes but earns less than the standard deduction amount for that tax year.

Tip income can affect this as well, so if your child, for instance, worked a job waiting tables after school, tip income may need to be accounted for. Once again, look for a local tax preparation agency for specific information as it pertains to your situation.

Disclaimer: The above is for informational purposes only and is not financial advice. Consult with a local tax professional.

Author Resource:-

Mark writes often about tax and estate planning. His articles may include topics like tax planning, estate planning, business accounting or any other tax service to help the people in needs. You can find his thoughts at tax advisor blog.

{{{ content }}}