Who Needs to File Tax Return ? Check This Calculator

who needs to file tax returnAs per US Code 26 , section 6012 , every individual having for the taxable year gross income which equals or exceeds the exemption amount. So an Individual who has Gross Income of 4050 or more for Tax Year 2017 , he /she needs to file the tax return.I have created an easy calculator way to find out who really needs to file tax return to IRS as per US Code 26

Who Needs to File Tax Return Finder !

Section 6012 of US Code 26 Explained

The aforesaid tax filing calculator is based on section 6012 of US Code 26 under which there are some exception that says that under certain circumstances an Individual will not have to file tax return

  1. who is not married ,  is not a surviving spouse , is not a head of a household , and for the taxable year has gross income of less than the sum of the exemption amount plus the basic standard deduction applicable to such an individual,
  2. who is a head of a household (as so defined) and for the taxable year has gross income of less than the sum of the exemption amount plus the basic standard deduction applicable to such an individual,
  3. who is a surviving spouse (as so defined) and for the taxable year has gross income of less than the sum of the exemption amount plus the basic standard deduction applicable to such an individual, or
  4. who is entitled to make a joint return and whose gross income, when combined with the gross income of his spouse, is, for the taxable year, less than the sum of twice the exemption amount plus the basic standard deduction applicable to a joint return, but only if such individual and his spouse, at the close of the taxable year, had the same household as their home. However , this rule shall not apply if for the taxable year such spouse makes a separate return or any other taxpayer is entitled to an exemption for such spouse under section 151(c).

Who ( Other than Individual )Must File Tax Return

Apart from Individuals ,following persons will have to file tax return necessarily

  1. Every corporation subject to taxation under subtitle A;
  2. Every estate the gross income of which for the taxable year is $600 or more;
  3. Every trust having for the taxable year any taxable income, or having gross income of $600 or over, regardless of the amount of taxable income;
  4. Every estate or trust of which any beneficiary is a nonresident alien;
  5. Every political organization (within the meaning of section 527(e)(1)), and every fund treated under section 527(g) as if it constituted a political organization, which has political organization taxable income (within the meaning of section 527(c)(1)) for the taxable year; and
  6. Every homeowners association (within the meaning of section 528(c)(1)) which has homeowners association taxable income (within the meaning of section 528(d)) for the taxable year.
  7. Every estate of an individual under chapter  or  of title of the United States Code (relating to bankruptcy) the gross income of which for the taxable year is not less than the sum of the exemption amount plus the basic standard deduction under section 63(c)(2)(D)

Filing Return is Good  in Certain Cases

Even if you do not otherwise have to file a return,you can get  a refund of any federal income tax withheld and also claiming following credits.
  1. Earned income credit.
  2. Additional child tax credit.
  3. American opportunity credit.
  4. Credit for federal tax on fuels.
  5. Premium tax credit.
  6. Health coverage tax credit.

 

Read the section 6012 here to legally understand who needs to file tax return

 

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