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Do You Need to File a Federal Income Tax Return?
Larry Denton
Many people will file a 2005 Federal income tax return even though the income on the return was below the filing requirement. Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
The questions below will help you determine if you need to file a Federal Income Tax return or if you need to stop your withholding so you will not have to file an unnecessary return in the future.
Did you have Federal taxes withheld from your pension and wages for this tax year and wish to get a refund back?
Are you entitled to the Earned Income Tax Credit or did you receive Advance Earned Income Credit for this tax year?
Were you self-employed with earnings of more than $400.00?
Did you sell your home?
Will you owe any special tax on a qualified retirement plan (including an individual retirement account (IRA) or medical savings account (MSA)?
You must file a 2005 Federal income tax if you owe any tax and you may owe tax if you:
Received an early distribution from a qualified plan.
Made excess contributions to your IRA or MSA.
Were born before July 1, 1933, and you did not take the minimum required distribution from your qualified retirement plan.
Received a distribution in the excess of $160,000 from a qualified retirement plan.
Will you owe social security and Medicare tax on tips you did not report to your employer?
Will you owe uncollected social security and Medicare or Railroad retirement (RRTA) tax on tips you reported to your employer?
Will you be subject to Alternative Minimum Tax (AMT)? (The tax law gives special treatment to some kinds of income and allows special deductions and credit for some kinds of expenses.)
Will you owe recapture tax?
Are you a church employee with income in wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security or Medicare taxes?
Additional Tax Articles
Extensions of Time To File
You may be able to get an extension of time to file your return. Special rules apply for those who were: outside the United States, or serving in a combat zone. If you cannot file your 2005 return by...
Gifts and the IRS
The gift tax applies to he giving of any property. You make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal...
Claiming Educational Expenses on Your Return
Generally, employees must complete Form 2106, Employee Business Expenses or Form 2106-EZ, Unreimbursed Employee Business Expenses, when job-related educational expenses are involved. Educational expenses...
Definition of a Qualifying Child
Beginning in 2005, one definition of a qualifying child will apply for each of the following tax benefits. In general, all four of the following tests must be met to claim someone as a qualifying child:...
Your Taxpayer's Bill of Rights
1. All IRS employees are required to explain and protect your rights as a taxpayer throughout your contact with the IRS. Consequently, the IRS will not disclose to anyone the information you give them,...
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