October 26, 2007, Newsletter Issue #87: Who Needs to File a Tax Return

Tip of the Week

Whether or not you need to file tax returns depends on your income level. If your income is above a certain level, you must file a tax return. That income level varies depending on your filing status, age, and the type of income you earned. The income level definitions can be found under the “individuals” section of the IRS Web site or in the instructions included with IRS form 1040EZ, 1040A, and 1040. Even if you aren't required to file a tax return, it could be to your advantage to do so, because you could get money back from the IRS if you qualify for the Earned Income Tax Credit, the Additional Child Tax Credit, or the Health Coverage Tax Credit.

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