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Question
Do you have to file taxes if you make under $1000
AI accountant’s answer:
If you made under $1,000 during the tax year and you are single, you generally do not have to file a federal income tax return. However, there are certain situations in which you may still want to file a return: 1. If you are self-employed with net earnings of $400 or more, you need to file a tax return to report self-employment income and pay self-employment tax. 2. If you had federal income taxes withheld from your paychecks, you might be eligible for a refund. 3. If you qualify for certain tax credits, like the Earned Income Tax Credit, you need to file a return to claim them. Remember, these are general guidelines for federal income tax returns. You should also check your state and local tax requirements, as they may have different filing thresholds.
Comment from reviewer
Judah Broussard, EA, JD
Not Correct.
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