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question.jpgIn Federal Income Tax

Do I have to file a tax return?

In most cases, yes. However, if you earn less than the minimum amount, a tax return is not necessary. In general, if your taxable income for last year fell below $7950 for a single taxpayer or $15,900 for a married couple, then you will not have to file a return, though it may be beneficial for you if you expect to get a refund or receive tax credits, such as the earned income credit.

However, even if your income falls below the threshold, you will still need to file a tax return if you earned more than $400 in self-employment income or if you owe Social Security and Medicare taxes that weren’t reported to your employer.