Direct File can be used to claim theEarned Income Tax CreditandChild Tax Credit, but not much else. You also can't itemize deductions or report additional income, like capital gains or money from gig work or rental properties. IRS Free File If your state doesn't have Direct File yet,IRS...
Who must file a tax return: Minimum income to file taxes If you’re wondering, “How much do I have to make to file taxes?”— look no further. When it comes to filing, the following taxable income thresholds determine whether you should file a tax return: Single filing status:...
Advice on credit, loans, budgeting, taxes, retirement and other money matters. You May Also Like Answers to 15 Common Tax Questions Find out how to file your return, claim the biggest tax breaks, avoid scams and more. Kimberly LankfordMarch 5, 2025 Got Kids? Here Are 6 Tax...
Advice on credit, loans, budgeting, taxes, retirement and other money matters. You May Also Like Answers to 15 Common Tax Questions Find out how to file your return, claim the biggest tax breaks, avoid scams and more. Kimberly LankfordMarch 5, 2025 Got Kids? Here Are 6 Tax Breaks The ...
Minimum income requirements for filing taxes in 2025 You probably have to file a tax return in 2025 if your gross income in 2024 was at least $14,600 as a single filer, $29,200 if married filing jointly or $21,900 if head of household. If you were 65 or older at the end of 2024...
It's easy to feel overwhelmed when you have years of back taxes you need to file, but we're here to help. Before you file your back taxes, learn how to gather old tax documents, which forms to complete, and how to minimize penalties and interest. If you'
Got room to up your 401(k) and IRA contributions before you hit the relevant annual contribution limit? Increase your automatic contributions as much as possible. At the very least, take advantage of your company match if you have one. That's effectively "free" money. Learn more on Fidelity...
No matter how small your business, you’ll likely need to file and pay taxes. Here’s our guide to filing small business taxes in 2025.
With inaccurate information you could pay too much or too little on yourtaxes. “Inaccurate reporting can also lead to incorrect tax calculations, resulting in underpayment or overpayment of taxes. Underpayment due to errors, like underreporting income or claiming ineligible deductions, could mean owing...
Some people mistakenly believe their child's status as adependentmeans they don't have to file taxes. However, dependent child status does not excuse your child from filing an income tax return in certain situations. A child who meets any one of these tests must file: If the child hasunear...