Who is required to file a tax return

If you are lucky enough to have your student loans paid off by someone else, you may have to think about the tax implications.

What is the alternative minimum tax AMT , and are you exempt from it? This link is to make the transition more convenient for you. You should know that we do not endorse or guarantee any products or services you may view on other sites.

Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. This may come as a surprise to many people, but not everyone needs to file a federal tax return. Whether or not you need to file is primarily based on your level of gross income and status for the tax year. Status and gross income will be the primary factors for determining whether or not you are required to file federal taxes.

The IRS has the following requirements:. Overall, there is no minimum age set for filing taxes, so tax returns are all primarily about income and tax status.

There can be some special considerations for dependents under the age of 19 or dependents who are full-time students under the age of The IRS provides the following details for dependents, also from Publications 17 and Additional details on dependents can also be found in Publication The IRS has extended the federal tax filing date for individuals until May 17, , due to the coronavirus pandemic—versus the previous deadline of April 15, As well, due to the winter storms that hit Texas, Oklahoma, and Louisiana in February , the IRS has delayed the federal individual and business tax filing deadline for those states to June 15, The majority of U.

Most states will require that you file a state tax return if you file a federal return. Specific requirements for each state can be found through TurboTax.

If you earned income from a job in a different state than your primary residence, or if you lived in multiple states during the tax year, you may need to file multiple state returns. Many tax filers that fall below the income threshold may be able to receive a refund through their tax filing, which can make filing beneficial. Refunds are available for W-2 employees and others who have had tax withheld from their paycheck during the year.

The government also offers a few tax credits for low-income individuals that may provide you with some money back at tax time. If taxes have been withheld from your payroll during the year, and your gross income falls below the tax thresholds, you can be eligible to get that money back.

You also get an increased standard deduction if:. The largest standard deduction would be for a married couple that are both blind and both over 65 years old. Having a larger standard deduction can allow you to have more income than someone under age 65 and still not have to file a return. Taxpayers who are claimed as a dependent on someone's tax return are subject to different IRS filing requirements, regardless of whether they are children or adults. A tax return is necessary when their earned income is more than their standard deduction.

The standard deduction for single dependents who are under age 65 and not blind is the greater of:. A dependent's income can be "unearned" when it comes from sources such as dividends and interest.

With all the above being said, there are years when you might not be required to file a tax return but may want to. If you have federal taxes withheld from your paycheck, the only way you can receive a tax refund when too much was withheld is if you file a tax return.

Remember, with TurboTax , we'll ask you simple questions about your life and help you fill out all the right tax forms. Whether you have a simple or complex tax situation, we've got you covered. Feel confident doing your own taxes.

Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest. For Simple Tax Returns Only. If you are on a J-1 visa working as an au pair, you may need to file estimated taxes using form ES-NR.

Review the tax treaty information between the U. In some cases, your taxable amount may be lower. If you are a foreign student, use this reference guide to learn more about the special rules that apply to your U. This includes your liability for Social Security and Medicare taxes. Learn more from the IRS's tax guide for individuals who aren't citizens. Ask a real person any government-related question for free.