Do You Have To File Your Tax Return If You Didn't Get A Paycheck?

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Do You Have To File Your Tax Return If You Didn't Get A Paycheck?

Wishful thinking...Some population have the misconception that if you don't get a paycheck or regular earnings you don't have to file your taxes. Even if the only source of funds you receive is a public safety check and you live below the poverty line you still have to file your earnings taxes. But millions of Americans who live on fixed incomes fail to file their earnings tax return and end up with an Irs tax debt that they didn't expect, and can't afford to pay.

Do You Have To File Your Tax Return If You Didn't Get A Paycheck?

Any exceptions? Is there any time when you don't have to file earnings taxes? either or not you have to file is based on 3 requirements: your gross earnings or how much you made while the tax year; your filing status, either you're particular or married; and your age.

Here's an example of someone who doesn't have to file: A particular person, over the age of 65 whose gross yearly earnings is less than ,050.

For the sake of argument...But for the purpose this narrative we're going to assume that you did have to file taxes and you didn't. Now you have an Irs tax debt...so what can you do?

You've got to do what you've got to do...Obviously you need to file those back taxes before the Irs files them for you. But here are some things the Irs-Hitman can tell you about what you need to do to get those back taxes filed correctly, and keep the Irs from making your debt impossible.

Did you save that shoebox? Your tax records are the key to getting your taxes filed correctly. However, depending on how far back your unfiled taxes returns go you may have lost or thrown away any of your records. The Irs can give you the information you would need for earnings earned, but what about any deductions or credits you think you deserve.

If you have property, your bank would be able to provide you with any information about your mortgage along with interest on the mortgage which you can claim on your taxes.

Were you taking care of your grandkids? You would need school and physician records to prove the child lived with you for at least 6 months of the tax year in question.

Do you get money back? What if you file your back taxes and find out that you not only don't owe any money, but you are surely entitled to a refund? Hold your horses because you can only get refunds from back taxes that are from tax returns in the last 2 years. If a return is older than 2 years then you get nothing.

Substitute Filing...If the Irs decided to file for you, you're in real trouble...especially if you don't have those all foremost tax records. When the Irs files for you they don't file in your favor. In fact when the Irs files your returns they file your returns so that you have to owe them. You can exertion to file an amended tax return, but if you didn't save those tax records then you don't have a leg to stand on and the Irs filing stays.

If you want to know either you should file your return or not, look at Irs Publication 17.

Now you have the smoking gun...Use it!

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