Who is required to file taxes?

## Understanding Tax Filing Requirements Filing taxes is a crucial responsibility for many individuals and entities, but not everyone is required to file a tax return. The obligation to file taxes depends on several factors, including income level, filing status, age, and specific circumstances. ### Income Thresholds The **Internal Revenue Service (IRS)** sets income thresholds that determine whether an individual must file a tax return. These thresholds vary based on filing status and age. For 2023, the general filing thresholds are: - **Single**: - Under 65: $13,850 - 65 or older: $15,700 - **Married Filing Jointly**: - Both spouses under 65: $27,700 - One spouse 65 or older: $29,200 - Both spouses 65 or older: $30,700 - **Married Filing Separately**: $5 (regardless of age) - **Head of Household**: - Under 65: $20,800 - 65 or older: $22,650 ### Self-Employed Individuals If you're self-employed, you must file a tax return if your net earnings were $400 or more. This includes: * Freelancers * Independent contractors * Gig economy workers * Small business owners ### Special Circumstances Certain situations require individuals to file a tax return regardless of income level: 1. You owe special taxes, such as: * Alternative minimum tax * Household employment taxes * Social security and Medicare tax on unreported tip income 2. You received: * Health Savings Account (HSA) distributions * Advance payments of the Premium Tax Credit * Distribution from a retirement account * Unemployment benefits ### Dependents Dependents have different filing requirements. They must file if they have: - **Unearned income** (such as dividends or interest) over $1,250 - **Earned income** over $13,850 - **Gross income** that is more than the larger of $1,150 or their earned income plus $400 ### Benefits of Filing Even if you're not required to file, you might benefit from doing so if: * You're eligible for refundable tax credits like: * Earned Income Tax Credit * Child Tax Credit * American Opportunity Credit * Federal income tax was withheld from your paycheck * You made estimated tax payments * You want to start the statute of limitations for tax assessment > Note: State filing requirements may differ from federal requirements. Check with your state's tax authority for specific guidelines. ### Getting Help If you're unsure about your filing requirement, you can: 1. Use the [IRS Interactive Tax Assistant](https://www.irs.gov/help/ita) 2. Consult a tax professional 3. Visit a local [Volunteer Income Tax Assistance (VITA)](https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers) site 4. Visit the [IRS website](https://www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return) 5. Use tax preparation software like [TurboTax](https://turbotax.intuit.com/) or [H&R Block](https://www.hrblock.com/?srsltid=AfmBOopWoZ8kHzIf9-A4SXVZllyGXSCccxCSaT2srg96B78MKKKpFi77) Remember, tax laws change frequently, so it's essential to verify current requirements each tax year.

Who is required to file taxes?

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