Working Remotely

[VOL 425]

I'll be filing my 1040 for the first time in a while (Wife & I finally made enough collectively to put us over the income requirement for filing in our filing category) for year 2014.

What is the income requirement to file taxes in usa?

[manilaraf 28]

What is the income requirement to file taxes in usa?

Have you ever heard of Google?

Seriously though, it's in the 1040 instructions (Scroll down to chart A): http://www.irs.gov/instructions/i1040gi/ar01.html#d0e386

IF your filing status is . . . AND at the end of 2014 you were* . . . THEN file a return if your gross income** was at least . . .

Single under 65 $10,150

65 or older 11,700

Married filing jointly*** under 65 (both spouses) $20,300

65 or older (one spouse) 21,500

65 or older (both spouses) 22,700

Married filing separately any age $3,950

Head of household under 65 $13,050

65 or older 14,600

Qualifying widow(er) under 65 $16,350

with dependent child 65 or older 17,550

Edited March 18, 2015 by manilaraf

[manilaraf 28]

Most people working in the States will file no matter what their income just to get back taxes withheld.

Since I don't have any taxes withheld and I never met the threshold, I didn't file.

[VOL 425]

Most people working in the States will file no matter what their income just to get back taxes withheld.

Since I don't have any taxes withheld and I never met the threshold, I didn't file.

I believe for Social Security they look at how many years you filed taxes and it is part of your benefit when you hit a certain age, or for Disability on SS. So not filing a certain amount you get a zero for that year.

I think you need to only make like $4500 per year to have it used in determination for you payment.

Just a heads up so if or when you become eligible for SS then it would be nice to have a $2000 or so per month come your way while you are doing nothing but sitting on beach or hanging out....

Have you ever heard of Google?

:devil:

[Umka36 781]

Personally this is why I would file even if I didn't have to:

Protect yourself from future audits

The IRS operates under a statute of limitations when it comes to auditing old tax returns.

If you've reported your information accurately, in most cases they can only go back three years. However, the clock only starts for a given year when you actually file your tax return.

If you don't file, the IRS can always come back and audit you. For this reason, the IRS recommends that even if you don't file, you still keep any relevant financial records indefinitely.

https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Can-I-File-an-Income-Tax-Return-if-I-Don-t-Have-Any-Income-/INF14238.html

[manilaraf 28]

Personally this is why I would file even if I didn't have to:

Protect yourself from future audits

The IRS operates under a statute of limitations when it comes to auditing old tax returns.

If you've reported your information accurately, in most cases they can only go back three years. However, the clock only starts for a given year when you actually file your tax return.

If you don't file, the IRS can always come back and audit you. For this reason, the IRS recommends that even if you don't file, you still keep any relevant financial records indefinitely.

https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Can-I-File-an-Income-Tax-Return-if-I-Don-t-Have-Any-Income-/INF14238.html

For the years I didn't make enough to have to file with the IRS, I had to file with the BIR regardless, so I do have evidence of amount and source of foreign income as well as evidence of foreign taxes paid. If the IRS wants to come at me with an audit, I've got myself taken care of. I hope they like the BIR's Godawful Quarterly and Annual ITR as well as the damnable Monthly Percentage Tax Return.

Edited March 18, 2015 by manilaraf

[Hank_ 9,171]

SS they look at how much you paid in, plus gross income, not how many times you filed tax returns.

[VOL 425]

SS they look at how much you paid in, plus gross income, not how many times you filed tax returns.

If you file for disability the look at how many times you filed.

[Hank_ 9,171]

If you file for disability the look at how many times you filed.

Do you have a link to this on the SSA site? My experience with SS disability was different.

[VOL 425]

Do you have a link to this on the SSA site? My experience with SS disability was different.

http://www.ssa.gov/planners/retire/credits3.html

I am closing in on 50, I am thinking about filing for disability

How old were you when you filed

[Hank_ 9,171]

http://www.ssa.gov/planners/retire/credits3.html

I am closing in on 50, I am thinking about filing for disability

How old were you when you filed

Don't confuse credits with filing taxes, even though they tend to go hand in hand... can't get credits without income, have to file taxes if you have adequate income... sort of a Catch 22

Big thing they look at after achieving adequate credits is your income, that really determines how much you will get.

[VOL 425]

Don't confuse credits with filing taxes, even though they tend to go hand in hand... can't get credits without income, have to file taxes if you have adequate income... sort of a Catch 22

Big thing they look at after achieving adequate credits is your income, that really determines how much you will get.

Explain income or link please, I have recently started looking at their requirements.

Is income your current income or like a total over so many years?

[Hank_ 9,171]

Explain income or link please, I have recently started looking at their requirements.

Is income your current income or like a total over so many years?

They look at current income (and 5 years back).

Does your doctor state that you are disabled?

[VOL 425]

They look at current income (and 5 years back).

Does your doctor state that you are disabled?

He writes me 5 years scripts for parking due to severe osteoarthritis in my knee. I really don't want knee replacement surgery, and when I am in warm climates like Philippines my knee feels much better, the cold and wet winter suxs here. I was hoping to move to Panama or Philippines for the warm weather.

[Hank_ 9,171]

He writes me 5 years scripts for parking due to severe osteoarthritis in my knee. I really don't want knee replacement surgery, and when I am in warm climates like Philippines my knee feels much better, the cold and wet winter suxs here. I was hoping to move to Panama or Philippines for the warm weather.

There are percentages of disabled, you will need to do research on this for sure.