IRS Tax Tip 2018-07: Deciding Whether and How to File? Here’s What to Remember

Internal Revenue Service (IRS) sent this bulletin at 01/16/2018 10:06 AM EST

IRS Tax Tips January 16, 2018

Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams/Consumer Alerts The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News IRS Resources Compliance & Enforcement News Contact Your Local IRS Office Filing Your Taxes Forms & Instructions Frequently Asked Questions Taxpayer Advocate Service Where to File IRS Social Media

Issue Number:    IRS Tax Tip 2018-07 Inside This Issue Deciding Whether and How to File? Here’s What to Remember As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. Here are three things for people to keep in mind as they prepare to file their taxes: Who is Required to File.  In most cases, income, filing status and age determine if a taxpayer must file a tax return. Other rules may apply if the taxpayer is self-employed or if they are a dependent of another person. For example, if a taxpayer is single and younger than age 65, they must file if their income was at least $10,400. There are other instances when a taxpayer must file. Go to IRS.gov/filing  for more information. Filing to get a refund. Even if a taxpayer doesn’t have to file, they should file a tax return if they can get money back. If a taxpayer answers “yes” to any of these questions, they could be due a refund: ◦Did my employer withhold federal income tax from my pay? Did I make estimated tax payments? Did I overpay last year and have it applied to this year’s tax?   Taxpayers can File for Free. Join the millions of Americans who safely file their taxes and save money using IRS Free File. Seventy percent of the nation’s taxpayers are eligible for IRS Free File. Commercial partners of the IRS offer free brand-name software to about 100 million individuals and families with incomes of $66,000 or less. Taxpayers who earned more can use Free File Fillable Forms. This option allows taxpayers to complete IRS forms electronically. It is best for those who are used to doing their own taxes. Instructions for Forms 1040, 1040A or 1040EZ list income tax filing requirements. Taxpayers can also use the Interactive Tax Assistanttool on IRS.gov to answer many tax questions.. They should look for “Do I need to file a return?” under general topics. All taxpayers should keep a copy of their tax return. Taxpayers using a software product for the first time may need their Adjusted Gross Income amount from their prior-year tax return to verify their identity. Taxpayers can learn more about how to verify their identity and electronically sign tax returns at Validating Your Electronically Filed Tax Return. More Information: Publication 17, Your Federal Income Tax Publication 501 Exemptions, Standard Deduction and Filing Information Share this tip on social media -- #IRSTaxTip: Deciding Whether and How to File? Here’s What to Remember.  https://go.usa.gov/xnv36

IRS Tax Tip 2018-07: Deciding Whether and How to File? Here’s What to Remember