How do I determine if I have to file tax return
As an individual taxpayer the requirement to file depends in part on your filing status, age, and gross income.
If you are single, you must file a tax return if your gross income was at least $9,500 ($19,000 if married and filing jointly).
If you are over 65 the gross income requirement raises to $10,950 (if married and filing jointly $20,150 one spouse 65+, $21,300 both spouses 65+).
There are also income requirements for Head of Household and Qualifying widow(er).The IRS provides a chart in the instruction booklets for the 1040, 1040A and 1040EZ.
Gross income includes money, goods, property and services that are not exempted from tax including income from outside the US and the sale of your main home even you can eventually exclude all or part of it.
You must file regardless of your age if you did not live with your spouse at the end of 2011 (or on the date your spouse died), and your gross income was at least $3,700.
There are additional filing requirements for children, other dependents and various situations.
You must also file to repay amounts due on the First-Time Homebuyer Credit.
You should file a return…
• If you had taxes withheld from your pay.
• You made estimated payments.
• You qualified for an earned income credit, additional child tax credit, American Opportunity Credit, Adoption Credit or refundable credits from prior years.
That said, when in doubt file.
It is estimated that 50 percent of the people who chose not to file would have received a refund.
The information provided is only a partial list of the filing requirements.
The total federal requirements can be found at: http://www.irs.gov/newsroom/article/ 0,,id=105097,00.html
New York’s requirements are located at: http://www.tax.ny.gov/
Questions for Deborah Ritz can be e-mailed to The Weekly Adirondack at WeeklyADK @yahoo.com
