|
Did you know individuals and families earning $50,000 and above already pay 82 percent of total taxes and 91 percent of income
taxes?
What Hurts More, Paying Taxes or NOT Paying Taxes?
Filing Requirements for Most Taxpayers for 2007
 |
|
If Your Filing Status is...
|
And at the end of 2004 you were...
|
File a return if your gross income was at least...
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
65 or older (both spouses)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Qualifying Widow(er) with dependent child
|
|
|
Qualifying Widow(er) with dependent child
|
|
|
|
|
|
Additional Situations to File a Return for 2007
1. You owe any special taxes, such as but not limited too:
Taxes on Tips (not reported by your employer)
Alternative Minimum Tax
Additional taxes on IRAs, MSAs, or ESAs
Recapture Taxes
2. You received and advanced Earned Income Payment from your employer (usually in box 9 of your W-2).
3. You had self-employment net earning of at least $400.
4. You received wages from a church-or similar-controlled organization that is exempt from employer
social secutity and medicare taxes. Limits apply.
5. All income is taxable. Al Capone went to prison for not paying
taxes on illegal income not murder.
|
