Who Should File a Tax Return | Internal Revenue Service

Most U.S. citizens – and permanent residents who work in the United States – need to file a tax render if they make more than a certain come for the year .
You may want to file even if you make less than that amount, because you may get money back if you file. This could apply to you if you :

  • Have had federal income tax withheld from your pay
  • Made estimated tax payments
  • Qualify to claim tax credits such as the Earned Income Tax Credit and Child Tax Credit

Do You Need to File a Tax Return?

here ‘s how to figure out if you should file a tax return this class :

  • Look at your income to see if you made the minimum required to file a tax return
  • Decide which filing status is best for you (you may be required to file a tax return depending on your filing status, income and age)
  • If you’re retired, find out if your retirement income is taxable
  • Find out if you qualify to claim certain credits and deductions to lower the amount of tax you owe
  • Use the Interactive Tax Assistant to see if you need to file

Determine Your Filing requirement

Benefits of Filing a Tax Return

Get money back. In some cases, you may get money back when you file your tax fall. For exercise, if your employer withheld taxes from your paycheck, you may be owed a refund when you file your taxes .
Avoid interest and penalties. You may avoid interest and penalties by filing an accurate tax return on meter and paying any tax you owe in the right way before the deadline. tied if you ca n’t pay, you should file on meter or request an extension to avoid owing more money.

Protect your credit. You may avoid having a lien placed against you when you file an accurate tax hark back on time and pay any tax you owe in the good manner before the deadline. Liens can damage your credit score and make it harder for you to get a lend .
Apply for financial aid. An accurate tax reappearance can make it easier to apply for help with department of education expenses.

Build your Social Security benefit. Claiming your self-employment income on your revert ensures that it will be included in your benefit calculation .
Get an accurate picture of your income. When you apply for a lend, lenders will look at your tax fall to figure your concern rate and decide if you can repay. If you file accurate tax returns, you may get a loan with a lower interest rate and better refund terms .
Get peace of mind. When you file an accurate tax return and pay your taxes on fourth dimension, you ‘ll know that you ‘re doing the right thing to follow the law .

Next Steps


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