Saturday, February 13, 2010

Do you really need to file a Federal tax return?

This is the rule for 2009:
It would all depends on many factors, but mainly is Gross Income (GI) and filing status.

Single-
under 65 with GI of $9,350 or more
65+ with GI of $10,750 or more

Head of Household-
under 65 with GI of $12,000 or more
65 + with GI $13,400 or more

Married Filing together-
under 65 with GI of $18,700
65 + with GI of $19,800 (one Spouse)
65 + with GI of $20,900 (both Spouses)

Married filing separately-
age is not a factor, GI $3,650 or more

Widowed (an remains a widowed by year end)with dependent child-
under 65 with GI of $15,050
65 + with GI of $16,150

That is the rule, however, failure to file a tax return may trigger an IRS notice even when a tax return is not required.



Dazzle Products