Mar 18, 2008

Q & A: Filing Requirement for Singles

QUESTION: Does everyone have to file an income tax return ? What is the threshold for singles?

ANSWER: For 2007, a single individual must file a tax return if gross income is at least $8,750. An individual 65 years of age or older must file if gross income is at least $10,050. Other thresholds for filing a return are:
Married Individual, filing separate.....$3,400
Married Couple, joint return.....$17,500
Married Couple, joint return, one spouse 65 or older.....$18,550
Married Couple, joint return, both spouses 65 or older.....$19,600
Head of Household.....$11,250
Head of Household, 65 or older.....$12,550
Qualifying Widow(er), surviving spouse.....$14,100
Qualifying Widow(er), surviving spouse, 65 older.....$15,150

If you are self-employed, you must file a tax return if your gross income from self-employment is greater than $400.
Another point to remember is if your gross income falls below the above thresholds but you have had federal and/or state income tax withheld from your paycheck, you must file a return to receive any refunds due to you.

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