Do I need to file a return? - Frequently Asked Questions
You need to file a return if your income, subject to tax, exceeds the sum of your standard deduction (including additional deductions for age 65+ or blindness) and any personal exemption you can claim. For tax year 1998, assuming you are not being claimed by anyone as a dependent, and that you are neither blind nor over age 65 (nor is your spouse, if married), your filing requirement would be:
|
Single |
$6,950 |
|
Head of Household |
8,950 |
|
Married/Joint |
12,500 |
|
Married/Separate |
2,700 |
| If you have children or others you claim as a dependent (don't count yourself or spouse), for each |
ADD $2,700 |
| If you are unmarried and either blind or past your 65th birthday at 12/31 |
ADD $1,050 |
| If you are married, and you (or your spouse, if filing jointly) is blind or past your 65th birthday at 12/31, for each of you to whom this applies |
ADD $850 |
EXCEPTIONS: (1) Dependent Filer - if you are a dependent of another taxpayer, your filing requirement is based on your standard deduction, which is generally the higher of your earned income (but no more than $4,250, $2,700 if married separately) or $700. If you have earned income that is no more than $700, you can go to that figure plus $250 (maximum $950) before you have to file. [Example: A dependent filer, with no earned income, who makes $701 in interest income, has to file a return! A dependent filer with paper-route income of $650, and $200 in interest income, does not have to file a return.] Self-Employed - if you have a net self-employment earnings of $400 or more, you need to file to calculate your self-employment tax. (2) Special Taxes - if you will owe special taxes, such as uncollected FICA tax on tips, alternative minimum tax, tax on a qualified retirement plan or recapture taxes, filing is mandatory regardless of the limits above.
When should you file, even if you don't have to? If you have had taxes withheld, which you are entitled to be refunded to you, or are entitled to the Earned Income Credit, you need to file a return in order to receive your refund.