Client Question: Do I Need to File a Tax Return?

You need to file a return if your income exceeds a
certain level based on your age and your filing status.  But even if your income is below the filing
levels, there are special circumstances that may require you to file, and times
where you may want to file.

Minimum
Income Requirements to File an Income Tax Return

If you earned less than the levels listed below, you are
generally not required to file a return:

Special
Cases That Require You to File a Tax Return Even If Your Income Is Below the Minimum Income Requirements

You are generally required to file an income tax
return, no matter what your income is, if any of the following are true:

• You must file a return if your spouse
  files a separate return, itemizes deductions, and your total income is $5
  or more.
• You owe Alternative Minimum Tax.
• You owe household employment tax.
• You owe additional taxes on a retirement
  plan or health savings account.
• You must repay the 2008 homebuyer credit
  (or any other recapture tax).
• You owe Social Security and Medicare
  taxes on unreported tip income.
• You had net self-employment income of
  $400 or more.
• You earned $108.28 or more from a
  tax-exempt church or church-controlled organization.
• You received distributions from an MSA
  or Health Savings Account.

Reasons
to File a Return Even When You Are Not Required to

The following situations do not require you to file,
but you obviously want to in order to receive a refund:

• Ifou had taxes withheld from your pay,
  you must file a tax return to receive a tax refund.
• If you qualify, you must file a return
  to receive the refundable Earned Income Tax Credit.
• You must file to receive the American Opportunity Credit.
• You must file to receive the refundable
  portion of the Child Tax Credit.
• You must file to claim the refundable
  Health Coverage Tax Credit.
• You must file to claim the refundable
  Adoption Tax Credit.
• You must file to claim the Credit for
  Prior Year Minimum Tax.
• If you want to receive a refund of overpaid
  estimated tax, or have an overpayment from prior years applied to this year’s return.