Do I Need to File a 2013 Tax Return?

Do I Need to File a 2013 Tax Return?

Are you unsure if you need to file a federal tax return?

Tax season is the best time of year. Okay, maybe that’s an exaggeration. If you plan to receive a big refund, then maybe it is! However, tax season (starting on January 31), can be a frustrating time for those that aren’t sure if they need to file taxes or not (not to mention very frustrating for those that owe a lot in taxes).

Filing a federal tax return depends on a variety of factors including your age and income. Even if you aren’t required to file a 2013 tax return, there are reasons why you may still want to. Once you learn if you need to file a tax return, RapidTax is here to help you through the process!

Filing federal taxes depends on:

  • Age
  • Filing Status
  • Income
  • Dependency status

Those Who Must File Taxes:

The chart below will help you learn if you fall into the tax bracket of filing taxes. If you make the minimum income listed you will need to file federal taxes.

Are You Under 65?

The income thresholds are different for those under 65. These thresholds are dependent on filing status.

You will need to file 2013 taxes (before April 15, 2014) if you are under 65 and:

  • Single and your gross income is $9800 or more
  • Head of household and your gross income is $12,550 or more
  • Married & filing jointly and your gross income is $19,550 or more
  • Married & filing separately and your gross income is $3,850 or more
  • Widow with a Dependent Child and your gross income is $15,750 or more
  • If your parents claim you as a dependent you will have to file taxes if you earned $5800 or more

Or Are You Over 65?

You will need to file 2013 taxes (before April 15, 2014)  if you are over 65 and:

  • Single and your gross income is $11,250 or more
  • Head of household and your gross income is $14,000 or more
  • Married & filing jointly and if one spouse gross income is $20,700 or more or both $21,850 or more
  • Married & filing separately and your gross income is $3,850 or more
  • Widow with a Dependent Child and your gross income is $16,900 or more

Special Circumstances

If you think you don’t have to file taxes and you fall in one of the following categories, think again. You will have to file tax return if you:

  • Have a self-employment income of $400 or more
  • Received  MSA or Health Savings Account distributions
  • Owe household employment taxes
  • Owe alternative minimum tax
  • Owe more taxes on a health savings account or retirement plan
  • Must repay the 2008 Homebuyer credit
  • Owe the alternative minimum tax
  • Earned more than $108.28 from church earnings

Even if you don’t have to file a tax return, it may be a good idea to if:

  • Taxes were withheld from your pay. (you will receive a tax refund)
  • You are claiming education credits and want to receive the American Opportunity Credit refund.
  • You qualify and want to receive the Additional Child Tax Credit refund.
  • You qualify and want to receive the Health Coverage Tax Credit refund, you must file.
  • You qualify and want to receive the Adoption Tax Credit.
  • You overpaid estimated tax and want to receive the refund.

If you know you have to file 2013 taxes, you will be able to do so anytime during the tax season. Beginning on January 1, 2014, RapidTax will make the 2013 tax return application available for you to get started while January 31 marks the official IRS start to the tax season.

Photo via s.jrod26 on Flickr

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This entry was posted on Friday, November 8th, 2013 at 2:26 pm and is filed under Tax Tips, Uncategorized.

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