Whether or not you’re required to file a tax return is based on several factors. Those factors for most people are age, filing status, and gross income.
For those who can be claimed as dependents on someone else’s return, the income would be further broken down into earned and unearned categories and whether the dependent is blind.
There may be other reasons that require you to file a return, like receipt of advance payments of the premium tax credit, self-employment income of at least $400, or qualified church wages of $108.28 are among those items.
The IRS provides three charts to cover these situations. Find the chart that fits your circumstances to determine whether you might need to file a tax return for 2023.
Not required to file a tax return for 2023? You might still want to file a return, though. If you had federal income taxes withheld on any of your income, you’ll likely get that money refunded back to you.
Also, you may want to file a return if you qualify for any of these credits:
- Earned Income Credit
- Additional Child Tax Credit
- American Opportunity Credit
- Credit for Federal Tax on Fuels
- Premium Tax Credit
- Credits for Sick and Family Leave
