USA Have I had to file income tax returns all of these years?


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I've never filed income tax returns my entire adult life. I've been above the age of 18 years of age for a while now, and have never filed income tax returns throughout the years I've been above that age. That's been due to reading a long time ago there was no need to if I had income below 12,000 dollars a year.

I don't know if that information was truthful or not, but I know that I've never earned an income above 12,000 dollars a year my entire adult life --and have had no income a year for most of my adult life. I didn't earn any income last year as an example, and had no intentions of filing an income tax return this year for last year.

Is that correct behavior? Should I have filed income tax returns these past years? Was it okay for me not to file? Will I have to file in the future?

Should I file in the future?

Can I file in the future? If I have no income in the future, should I file for those years when I have no income? If I earn 12,000 dollars a year or less in years in the future, should I file income tax returns?
 
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Drmdcpa

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I've never filed income tax returns my entire adult life. I've been above the age of 18 years of age for a while now, and have never filed income tax returns throughout the years I've been above that age. That's been due to reading a long time ago there was no need to if I had income below 12,000 dollars a year.

I don't know if that information was truthful or not, but I know that I've never earned an income above 12,000 dollars a year my entire adult life --and have had no income a year for most of my adult life. I didn't earn any income last year as an example, and had no intentions of filing an income tax return this year for last year.

Is that correct behavior? Should I have filed income tax returns these past years? Was it okay for me not to file? Will I have to file in the future?

Should I file in the future?

Can I file in the future? If I have no income in the future, should I file for those years when I have no income? If I earn 12,000 dollars a year or less in years in the future, should I file income tax returns?
Your filing requirement depends on several factors including filing status (MFJ, MFS, S, HOH), your income level, whether you can be claimed as a dependent by another, what type of income you had, if there was any tax withheld, and the standard deduction (and exemptions for historical years).

Starting 1/1/2018 the standard deduction for a single independent taxpayer was $12k. Thus W-2 and some other types of income would have no filing requirement if income did not exceed $12k.

But self employed income, capital gains, rental, and others types of income have filing requirements below the standard deduction.

Years prior to 2018 had lower W-2 income levels to cause a filing requirement.

One thing is certain. If you had a filing requirement and did not file, the statute of limitations has not started to expire.
 

Werner Reisacher

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Actually, the filing threshold for unearned income for individuals that are singles and younger than 65 years of age is $ 1,100
 

Werner Reisacher

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Thank you for the correction.
forgot to add that the unearned income threshold only applies to individuals that are claimed as "dependent"s" on somebody's tax return.
 
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Drmdcpa

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Thank you for the correction.
forgot to add that the unearned income threshold only applies to individuals that are claimed as "dependent"s" on somebody's tax return.
There you go but still not correct. Look up Kiddie Tax limits.
 
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You should file taxes every year no matter the income level in case of things such as this current pandemic. Stimulus checks were based on tax filing. If you are still eligible to be claimed as a dependent, have your parents claim you. Always file to keep a steady record rather than filing one year and not the next, so on and so forth. If you have your records of the past few years, file the years still available.
 
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Any income that you earn must be claimed on tax form either as freelance work or side job hobbies. Either way you are a dependent child or independent child. All income must be submitted through the IRS. Submit all income because it is taxable.
 

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