How Much Do I Have to Make Before I Must File?

So, you found yourself a little part time job to fill in the hours of the day. But how much do you have to make before the government is knocking at your door with their hand out for their cut? Here are some helpful numbers! (numbers are so considerately helpful…and from 2007!)

Starting with you under 65ers:
If you are single and make less than $8,750 (gross that is)–YOU DON’T HAVE TO FILE! YAY YOU!
If you can consider yourself head of house and make less than $11,250–YOU DON’T HAVE TO FILE EITHER!
Married and filing jointly? $17,500 is your number as long as BOTH of you are under 65. Only one? (Hugh Hefner anyone?) $18,550 is for you.
Married and filing separate? No matter your age…$3,400
Widows(ers) with a child have to make more than $14,100 before they have to file.

Over 65:
Single–$10,050
Head of House–$12,550
Married joint filing (both of you over the hill)–$19,600
Married separate filing (I don’t know why you want to do so much paper work at that age)–haha—doesn’t matter your age…still $3,400
Widow(er) but you must have a dependant child–$15,150
(numbers provided by the IRS Website)

Even if you don’t have to file because you didn’t make enough money…there are a few other reasons you may want to file anyway because you may be entitled to a refund.
1. You qualify for the earned income credit
2. You have had taxes withheld from your paycheck by an employer
3. You have a child who will get you additional child credit

So, some of you should be filing and aren’t, and some of you are filing and it is completely unnecessary. Which are you?

For more information on filing: check out Publication 501 (2007), Exemptions, Standard Deduction, and Filing Information on the IRS website.