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TAX TIME...

s.gun
Friend tells me he doesn?t have to file any tax filings at end of year...Is that maybe true if your income is low enough ???I have always thought it was mandatory....
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Comments

6 comments

Date Votes
  • RobOz
    It can be true
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  • spasmcreek
    i imagine many file only to get a REFUND......PARTY TIME!!!
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  • SW0320
    About the only way that happens is if both are on social security and no other major income.
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  • waltermoe
    NO! If you had any kind of income you have to file. That includes social security, pensions, interest and so on. State income tax in some states MAY not require that you file for different reasons.
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  • He Dog
    He does not have to, though he will likely be sorry.
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  • neacpa
    Contrary to a prior statement, not everyone who has income has to file.

    If a single person 65 or older had social security income of $23,300 and other income (as long as it is not from self-employment) of $13,500 or less, then he/she would not have to file.

    A married couple filing joint with both being 65 or older could have social security income of $35,000 combined and other income (again as long as it is not from self-employment) of $22,500 or less, then they would not have to file.

    So depending on their age and what type of income they had, a married couple could have over $55k of income and not have a federal filing requirement.
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