Here are the criteria ------ directly from the IRS website:
You must file a federal income tax return if your income is above
a certain level; which varies depending on your filing status, age and the type
of income you receive.
Your filing status is Single and you're either of the following:
- younger than 65 with gross income of $9,350 or more
- 65 or older with gross income of $10,750 or more
Your filing status is
Married Filing Jointly and you are any of the following:
- you are both younger than 65 with a combined gross income of $18,700 or more
- only 1 spouse is 65 or older and together you have a combined gross income of $19,800 or more
- you are both 65 or older with a combined gross income of $20,900 or more
Your filing status is
Married Filing Separately and you are any age with gross income of $3,650 or more.
Your filing status is
Head of Household and you are either of the following:
- younger than 65 with gross income of $12,000 or more
- 65 or older with gross income of $13,400 or more
Your filing status is
Qualifying Widow(er) with dependent children and you are either of the following:
- younger than 65 with gross income of $15,050 or more
- 65 or older with gross income of $16,150 or more
If someone else can claim you as a dependent, you must file a return if you have any of the following:
- unearned income more than $950
- earned income more than $5,700
- gross income more than the larger of $950 or earned income (up to $5,400) plus $300
There are some instances when you may want to file a tax return even though
you are not required to do so. Even if you don't have to file, here are seven
reasons why you may want to:
- Federal Income Tax Withheld You should file to get money
back if Federal Income Tax was withheld from your pay, you made estimated tax
payments, or had a prior year overpayment applied to this year's tax.
- Making Work Pay Credit You may be able to take this credit
if you had earned income from work. The maximum credit for a married couple
filing a joint return is $800 and $400 for other taxpayers.
- Earned Income Tax Credit You may qualify for EITC if you
worked, but did not earn a lot of money. EITC is a refundable tax credit; which
means you could qualify for a tax refund.
- Additional Child Tax Credit This refundable credit may be
available to you if you have at least one qualifying child and you did not get
the full amount of the Child Tax Credit.
- American Opportunity Credit The maximum credit per student
is $2,500 and the first four years of postsecondary education qualify.
- First-Time Homebuyer Credit The credit is a maximum of
$8,000 or $4,000 if your filing status is married filing separately. To qualify
for the credit, taxpayers must have bought (or entered into a binding contract
to buy) a principal residence located in the United States on or before April
30, 2010. If you entered into a binding contract by April 30, 2010, you must
have closed on the home on or before September 30, 2010. If you bought a home as
your principle residence in 2010, you may be able to qualify and claim the
credit even if you already owned a home. In this case, the maximum credit for
long-time residents is $6,500, or $3,250 if your filing status is married filing
separately.
- Health Coverage Tax Credit Certain individuals, who are
receiving Trade Adjustment Assistance, Reemployment Trade Adjustment Assistance,
or pension benefit payments from the Pension Benefit Guaranty Corporation, may
be eligible for a Health Coverage Tax Credit worth 80% of monthly health
insurance premiums when you file your 2010 tax return.
