The question: "How much money do you have to make to file taxes?" is often posted on forums and question board on numerous websites around the country today.
This question is tantamount in determining the minimum gross income for an individual to file taxes.
The minimum income depends on factors such as age and civil status.
If a person is an employee whose age is below 65 years old and his/her filing status is single, the minimum income is $8,950.
For employees whose age is 65 years old and above and whose civil status is single, the minimum gross income requirement for filing a return is $10,300.
For employees who are married and are below 65 years old and who are filing jointly, all the money should be $17,900 if both spouses are below 65 years old.
If both spouses are aged 65 and above, all the money should be $20,000 in order for them to file an income return.
If only one of the spouses is aged 65 and above, the minimum gross income is $18,950.
For employees who are married and filing separately, the minimum income is $3,500 regardless of age.
For a head of the family whose age is below 65 years old, the minimum income is $11,500 and $12,850 for 65 years old and above.
For widowers under 65 years old with dependent child, the gross income should be $14,400 and 15,450 for those who are 65 years old and above.
The words 'gross income' means all the money, services, goods and property you've received except for those coming from social security benefits.