Who is Required to File a Tax Return, and Who Isn't

With Tax Day fast approaching, it is important to know who is required to file a tax return this year. For most people, the last day to file a federal income tax return, or to request an extension to file, is April 18. If you miss this deadline, you could face penalties. 

Basically, you have to file a federal income tax return with the IRS once your income meets a certain threshold or limit. Those income limits depend on your filing status and your age. For example, if you are 65 or older, the threshold for whether you are required to file a tax return is higher. (But keep in mind that most forms of retirement income are taxable at the federal level). 

Another example involves some dependents with their own income — either from part-time jobs or investment earnings. They might have tax-filing requirements, but with thresholds that are lower than most.

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Who Is Required to File a Tax Return: Filing Thresholds

If you are under age 65, you must file a 2022 federal income tax return if you met the income threshold for your tax filing status as noted below:

• $12,950 for single filers
• $19,400 for head of household
• $25,900 for married filing jointly
• $25,900 for a qualified surviving spouse

If you are age 65 or older, the filing thresholds for the 2022 tax year are higher: 

• $14,700 for single filers
• $21,150 for head of household
• $27,300 for married couples filing jointly when one spouse is 65 or older
• $28,700 for married couples filing jointly when both spouses are 65 and older
• $27,300 for a qualified surviving spouse

If you are married and filing separately, you must file a tax return if your income is five dollars or more, regardless of your age. 

When You Should File Taxes with the IRS

Even if you don’t have to file a federal income tax return this year, you might want to if it means getting a tax refund. For example, employees who had taxes withheld from their paychecks last year could receive a tax refund. If you had too much money withheld for taxes throughout the year, the IRS will send you the difference but only if you file a tax return. Or, you might qualify for various refundable federal tax credits, even if you were self-employed. Some of those credits include the Earned Income Tax Credit (EITC), the Child Tax Credit, and the American Opportunity Tax Credit.

• The EITC is a refundable tax credit for taxpayers with income below $59,187 and who meet other requirements. Many workers with low and moderate income are eligible for the EITC, which can be worth up to $560 for taxpayers with no qualifying children and up to $6,935 for taxpayers with three or more qualifying children.
• The American Opportunity Tax Credit is a credit for certain education expenses, such as tuition and textbooks. The tax credit is available for qualifying students during their first four years of higher education. If you're eligible, you can receive up to a $2,500 credit for each eligible student. The credit is partially refundable, up to $1,000.
• The child tax credit has changed over the last couple of years. Now, individuals who made at least $2,500 and had a qualifying child under the age of 17 in 2022 might qualify for the partially refundable child tax credit when they file their 2022 federal tax return. (The child tax credit was fully refundable for the 2021 tax year but has now returned to its pre-pandemic level).

Do Minors Have to File Taxes? 

Dependent minors will not owe tax if their earned income does not exceed the standard deduction. The standard deduction for the 2022 tax year is $12,950 for single filers. Minors could still get a tax refund if they earned less than that amount.

Also, minors need to file a tax return if they collected more than $1,150 in unearned income during 2022, such as from interest or dividends. When the minor has only unearned income, parents might have the option to report it on their own tax return. When minor dependents earn both earned income (e.g., tips, wages, or self-employment income) and unearned income (i.e., income from investments or unemployment), the combined amounts might trigger a filing requirement.

Do I File Taxes if I'm Self-Employed?

If you are self-employed, you must file a tax return if your net self-employment income is $400 or more. This is true whether you run your own business full time or on the side. If you are self-employed and required to file a tax return, you can reduce your tax liability by taking advantage of qualifying deductions and credits for the self-employed. 

The U.S. tax system is a pay-as-you-go system, so self-employed people often have to make estimated tax payments. The first quarterly estimated tax payment for 2023 is due on April 18, unless that date has been extended by the IRS due to severe storms and disasters. Most self-employed workers who expect to owe at least $1,000 ($500 for corporations) can avoid penalties if they make this estimated payment by Tax Day.  

If You Have to File a Tax Return: What You Can Do

If you need to file a federal income tax return and haven't yet, there is still time. But remember: Tax Day is April 18. You can use IRS Free File if your adjusted gross income (AGI) was $73,000 or less for 2022. 

Also, if you aren't sure if you need to file a tax return, you can use the IRS's Interactive Tax Assistance tool to help you determine whether you are required to file a tax return and if you qualify for specific tax credits.