Do You Need to File a Federal Income Tax Return?

 Do you have to file?

Many people have already filed their 2013 Federal income tax return even though their income on the return was below the filing requirement.  The questions below will help you to determine if you need to file a Federal Income Tax Return for next tax season.

1. Did you have any Federal income tax withheld from your wages for this tax year and wish to get a refund back?

   

    My tax refund

2. Are you entitled to the Earned Income Tax Credit for this tax year?
3. Were you self-employed with annual earnings of more than $400?
4. Did you sell your home?
5. Will you owe any special tax on a qualified retirement plan which includes an Individual Retirement Account (IRA) or Medical Saving Account (MSA)? 
6. You may owe tax if you:
   1. Received an early distribution from a qualified plan.
   2. Made excess contributions to your IRA or MSA.
   3. Were born before July 1, 1942, and you did not take the minimum required distribution from your qualified retirement plan.
7. Will you owe social security and Medicare tax on tips that you did not report to your employer?
8. Will you be subject to Alternative Minimum Tax?
9. Will you owe recapture tax?
10. Are you a church employee with income in wages of $108.28 or more from a church that is exempt from employer social security or Medicare taxes?

    

     File your tax return

Do one or more of the above situations apply to your filing requirements?

If the answer is “Yes”, then you should file your tax return for next tax season. 

Your comments and feedbacks are welcome.

Source:  www.irs.gov.
Email:   Excellent-tax@gmx.com