It is still tax hour. In your haste to do your taxes, do not make these six mistakes.
Josmar Taveras, United States Today
All Americans do not need to file a federal tax return. Those who do not earn enough income are not obliged to do so.
Whether you make the cut or not depends on your status and your age.
Single filers must file a return if they earn at least:
· $ 12,000 if under 65
· $ 13,600 if you are 65 years of age or older
Married, joint depositary must file a return if they earn at least:
· $ 24,000 if both spouses are under age 65
· $ 25,300 if one spouse is under age 65 and the other is age 65 or older
· $ 26,600 if both spouses are 65 years of age or older
Married classifying applicants separately must file a return if they earn at least:
· $ 5 for all ages
Calculator & nbsp; & nbsp; &Taurus; Invented by: Blaise Pascal & nbsp; & nbsp; &Taurus; Age of invention: 18 & nbsp; & nbsp; &Taurus; Invented in: 1642 & nbsp; & nbsp; Blaise Pascal was a famous French mathematician, physicist and theologian. Pascal created the device to help his father, who was tax collector, to more easily calculate taxes. Her invention was called Pascaline, who worked with a digital wheel calculator with movable dials, each dial representing a number. Pascal has continued to make improvements to the device and has made dozens of versions. (Photo: MangoStar_Studio / iStock)
Head of reporting households must file a return if they earn at least:
· $ 18,000 if under 65
· $ 19,600 if you are 65 years of age or older
Eligible widow or widower with dependent child must file a return if they earn at least:
· $ 24,000 if under 65
· $ 25,300 if you are 65 years of age or older
You may also be required to file a federal return if you are self-employed, have been paid on a 1099-MISC form or if you have purchased health insurance from a federal or state market.
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The IRS provides an online tool to help you determine if you need to file a 2018 federal income tax return.
Why should you file anyway?
Even if you are not required to file a tax return because your income does not meet the minimum thresholds, you may still want to do so. This is because you may qualify for a refundable credit.
One of the most missed refundable credits is the Earned Income Tax Credit (EITC), designed to help low- and middle-income taxpayers. For 2018, the credit can reach $ 6,431.
Another refundable credit is the Additional Child Tax Credit (CCTA). This year, you can receive a refund equal to 15% of your earnings above $ 2,500, up to $ 1,400.
How to deposit
Most taxpayers have until Monday, April 15 to file their 2018 taxes. If you have a simple return – where you take the standard deduction, have a W-2 income, apply for a child tax credit or a child tax credit, and limited interest and dividend income – then you are probably entitled to a simple federal tax return.
Most tax preparers, such as TurboTax and H & R Block, offer a free file service.
Among the professional expenses, the rental fees and the medical expenses, here are some of the weirdest things that people have deducted.
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