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Your Practice. Popular Courses. Taxes Income Tax. Table of Contents Expand. Federal Filing Requirements. State Filing Requirements. Penalties for Non-Filers. Other Considerations. Knowing Your Tax Obligations. Key Takeaways Not everyone is required to file federal taxes.
Your tax filing status and gross income are the prime determiners of whether or not you need to file. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. As of the tax year, these figures are:. There are various rules and requirements you have to meet in order to file in some of the situations mentioned in the table above. You must be unmarried on the last day of the tax year, pay more than half the cost of maintaining the home, and have a qualifying dependent to file as head of household.
A qualifying widow er with a qualifying child dependent is entitled to use the same standard deduction as married taxpayers who file jointly for up to two years after the death of a spouse.
Other rules also apply. Taxpayers who are 65 or older and blind persons get an additional standard deduction on top of the regular standard deduction.
Their filing requirements differ because of these additional amounts. You must file a tax return for under any of the following circumstances if you're single, someone else can claim you as a dependent, and you're not age 65 or older or blind:. You'll have to file a tax return even if you don't earn these income thresholds if you owe any special taxes.
These include the additional tax on a qualified retirement plan such as an IRA or other tax-favored account. But if you only have to file a return because you owe a particular tax, you can submit IRS Form by itself instead.
Other special taxes include the Alternative Minimum Tax, and Social Security and Medicare tax on tips you didn't report to your employer, or taxes on wages you received from an employer who didn't withhold these taxes from your pay.
A return is required if you, your spouse, or a dependent were enrolled in coverage through the Healthcare. You'll know whether this pertains to you, because you'll receive a Form A detailing the payments.
You might want to file a return even if you're not required to do so, if it will result in receiving a tax refund—otherwise, you're just letting the IRS keep that money. This would be the case if, for example, you had any taxes withheld from your income, such as withholding on wages or retirement plan distributions, so you overpaid your taxes because the income falls below these filing thresholds—no tax would be due. You'd be entitled to a refund of the money that was withheld, because you don't have a tax liability.
Filing could also generate a tax refund if you're eligible for one or more of the refundable tax credits , such as the Earned Income Credit , the Child Tax Credit , or the American Opportunity Tax Credit. You'd have to file a tax return to calculate and claim these credits and to request a refund from the IRS. The IRS has certain time limits, called " statutes of limitations ," for issuing tax refunds, conducting audits, and collecting taxes that someone might owe.
It generally has three years from the date a tax return is filed to begin an audit, and it has 10 years to collect a tax. These time limits never begin running if a return isn't filed, so the IRS would effectively have forever to look into your tax situation. Filing a return starts the clock ticking on these statutes of limitations. You might also want to file a return if you have been—or think you might be—a victim of identity theft. Filing a return puts the IRS on notice as to what your true income was for the year, and it prevents a thief from filing a false tax return using your name and Social Security number.
Tax Day is April 15, but if that day falls on a holiday or weekend, then the due date shifts to the nearest business day. If you continue earning enough income to meet the minimum filing thresholds, then you will need to keep filing income tax returns indefinitely. Your age affects your threshold, but your income is still the main factor. ITA Home. This interview will help you determine if you're required to file a federal tax return or if you should file to receive a refund.
The tool is designed for taxpayers who were U. If married, the spouse must also have been a U. For information about nonresidents or dual-status aliens, please see International Taxpayers.
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