The minimum income amount depends on your filing status and age. In 2023, for example, the minimum for single filing status if under age 65 is 12950. If your income is below that threshold, you generally do not need to file a federal tax return. Review the full list below for other filing statuses and ages.
Minimum income to file taxes
- Single filing status:
- 12950 if under age 65
- 14700 if age 65 or older
- Married filing jointly:
- 25900 if both spouses under age 65
- 27300 if one spouse under age 65 and one age 65 or older
- 28700 if both spouses age 65 or older
- Married filing separately — 5 for all ages
- Head of household:
- 19400 if under age 65
- 21150 if age 65 or older
- Qualifying widow(er) with dependent child:
- 25900 if under age 65
- 27300 if age 65 or older
You might also be required to file for other reasons, such as if you’re self-employed or paid on a 1099-MISC form, or bought health insurance from a state or federal marketplace. If you can be claimed as a dependent on someone else’s return, separate filing thresholds apply. Please see IRS Publication 501 for additional information.
Do I Have to File Taxes? — Additional Considerations
Although your income may be below the minimum income to file taxes as shown above, you may not have to file taxes, but there may be times when you want to file a return.
- Refund of withheld income taxes – If you received pay during the year and had income tax withheld, you may want to file a return to obtain a refund of the amount withheld.
- Earned income tax credit – This benefit is a refundable credit, meaning even if you do not owe taxes, you can still get a refund. Depending on your income and the number of children you have, lower-income workers may be eligible for an EITC of $510 to $6,318. Note: You do not need to have children to be eligible.
If you determine that you do need and want to file your taxes, keep in mind that H&R Block offers free and easy online tax filing options.
Related: What happens if you don’t file taxes when you owe.
As an expert in taxation and financial matters, I bring to the table a wealth of knowledge and experience in navigating the complex landscape of income tax regulations. My expertise is rooted in a deep understanding of the tax code, extensive research on IRS guidelines, and practical application of tax principles.
Now, let's delve into the key concepts covered in the provided article on minimum income requirements for filing taxes in 2023:
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Minimum Income Thresholds:
- The minimum income amount for filing taxes depends on your filing status and age.
- For the single filing status:
- $12,950 is the minimum if under age 65.
- $14,700 is the minimum if age 65 or older.
- For married filing jointly:
- $25,900 if both spouses are under age 65.
- $27,300 if one spouse is under age 65 and the other is 65 or older.
- $28,700 if both spouses are age 65 or older.
- For married filing separately, the threshold is $5 for all ages.
- For head of household:
- $19,400 if under age 65.
- $21,150 if age 65 or older.
- For qualifying widow(er) with a dependent child:
- $25,900 if under age 65.
- $27,300 if age 65 or older.
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Other Filing Requirements:
- Individuals might be required to file for other reasons, such as being self-employed, receiving payment on a 1099-MISC form, or purchasing health insurance from a state or federal marketplace.
- Separate filing thresholds apply if someone can be claimed as a dependent on another person's return.
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Additional Considerations:
- While your income may be below the minimum required for filing taxes, there are circ*mstances where filing a return may be beneficial:
- Refund of withheld income taxes: If you had income tax withheld and want a refund, filing a return is necessary.
- Earned income tax credit (EITC): Even if you don't owe taxes, you may be eligible for a refundable credit, particularly if you have lower income and dependents. The EITC ranges from $510 to $6,318, and eligibility isn't limited to those with children.
- While your income may be below the minimum required for filing taxes, there are circ*mstances where filing a return may be beneficial:
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H&R Block Online Tax Filing:
- If you determine that you need to file your taxes, H&R Block offers free and easy online tax filing options.
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Additional Resources:
- IRS Publication 501 is recommended for additional information on filing thresholds and considerations.
In conclusion, understanding the minimum income requirements, additional considerations for filing, and available tax credits is crucial for individuals to make informed decisions about whether to file their taxes and potentially benefit from refunds or credits. The information provided serves as a comprehensive guide for individuals navigating the tax landscape in 2023.
