{"id":2813,"date":"2024-02-03T16:13:19","date_gmt":"2024-02-03T16:13:19","guid":{"rendered":"https:\/\/randetaxaccounting.com\/?p=2813"},"modified":"2024-02-03T16:18:40","modified_gmt":"2024-02-03T16:18:40","slug":"who-needs-to-file-a-tax-return-in-2024-3","status":"publish","type":"post","link":"https:\/\/randetaxaccounting.com\/?p=2813","title":{"rendered":"Who Needs To File A Tax Return In 2024?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2813\" class=\"elementor elementor-2813\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-76d6c5c e-flex e-con-boxed e-con e-parent\" data-id=\"76d6c5c\" data-element_type=\"container\" data-settings=\"{&quot;container_type&quot;:&quot;flex&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-73e5f79 elementor-widget elementor-widget-spacer\" data-id=\"73e5f79\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4cf5099 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"4cf5099\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Who Needs To File A Tax Return In 2024?<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7f2f2cd e-flex e-con-boxed e-con e-parent\" data-id=\"7f2f2cd\" data-element_type=\"container\" data-settings=\"{&quot;container_type&quot;:&quot;flex&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7052243 elementor-widget elementor-widget-text-editor\" data-id=\"7052243\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h5><span style=\"color: #000000;\"><b>Issue Number:<\/b>\u00a0 \u00a0 FS-2024-02<\/span><\/h5><h5><b><span style=\"color: #000000;\">Inside This Issue\u00a0<\/span><\/b><\/h5><hr \/><p><span style=\"font-size: large;\"><b>Here&#8217;s who needs to file a tax return in 2024<\/b><\/span><\/p><p>Most\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjYsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaW5kaXZpZHVhbHMvaW50ZXJuYXRpb25hbC10YXhwYXllcnMvdXMtY2l0aXplbnMtYW5kLXJlc2lkZW50cy1hYnJvYWQtZmlsaW5nLXJlcXVpcmVtZW50cyIsImJ1bGxldGluX2lkIjoiMjAyNDAyMDIuODk1NzM1MjEifQ.lDX0fI9sxXsyDqXmdS2IN_qQgqT-a4uYYeVdL3YN2uE\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">U.S. citizens<\/a>\u00a0and\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjcsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaW5kaXZpZHVhbHMvaW50ZXJuYXRpb25hbC10YXhwYXllcnMvdXMtcmVzaWRlbnRzIiwiYnVsbGV0aW5faWQiOiIyMDI0MDIwMi44OTU3MzUyMSJ9.kRXY4JBLMoZCXfZzGQ02qbJC1WIEkO3EjxLllXuuyDA\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">permanent residents<\/a>\u00a0who work in the United States need to file a tax return if they make more than a certain amount for the year.<\/p><p>The IRS has a variety of information available on IRS.gov to help taxpayers, including a special &#8220;<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjgsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaGVscC9sZXQtdXMtaGVscC15b3UiLCJidWxsZXRpbl9pZCI6IjIwMjQwMjAyLjg5NTczNTIxIn0.3pfPfmBzEviKOQXzc0k0eyHjjnSdg060KU-qQ3WO_hk\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">free help<\/a>&#8221; page. Here are some specific details to help people if they need to file a tax return.<\/p><p><b>Factors that affect whether someone needs to file a tax return<\/b><\/p><p>Here are some of the things that affect whether someone must file a tax return.<\/p><p><b>Gross income.<\/b>\u00a0Gross income means all income a person received in the form of money, goods, property and services that aren&#8217;t exempt from tax. This includes any income from sources outside the United States or from the sale of a main home, even if you can exclude part or all of it.<\/p><p><b>Required filing threshold.<\/b>\u00a0People need to see if their gross income is over the required filing threshold.\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjksInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaGVscC9pdGEvd2hhdC1pcy1teS1maWxpbmctc3RhdHVzIiwiYnVsbGV0aW5faWQiOiIyMDI0MDIwMi44OTU3MzUyMSJ9.sdmaQcSncR-pYraDgyO8TVcs44RkWTn2Y1BYnZo7Xho\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">Filing statuses<\/a>\u00a0have different income thresholds, so individuals may need to consider their potential filing status as well.<\/p><p>There are five filing statuses:<\/p><ul><li>Single<\/li><li>Head of household<\/li><li>Married filing jointly<\/li><li>Married filing separate<\/li><li>Qualifying surviving spouse<\/li><\/ul><p>Find details on tax filing requirements with\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzAsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvZm9ybXMtcHVicy9hYm91dC1wdWJsaWNhdGlvbi01MDEiLCJidWxsZXRpbl9pZCI6IjIwMjQwMjAyLjg5NTczNTIxIn0.Sblc_lPiuuPxRF6JMsgXMSnZrNDeZlvQ3qIl3KYEmrI\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">Publication 501, Dependents, Standard Deduction, and Filing Information<\/a>.<\/p><p><b>Tax year 2023 filing thresholds by filing status<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6930b7a elementor-widget elementor-widget-image\" data-id=\"6930b7a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"974\" height=\"754\" src=\"https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original.jpg\" class=\"attachment-large size-large wp-image-2825\" alt=\"\" srcset=\"https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original.jpg 974w, https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original-300x232.jpg 300w, https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original-768x595.jpg 768w, https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original-500x387.jpg 500w, https:\/\/randetaxaccounting.com\/wp-content\/uploads\/2024\/02\/tax-year-2023-filing-thresholds-by-filing-status_original-800x619.jpg 800w\" sizes=\"(max-width: 974px) 100vw, 974px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52d3912 elementor-widget elementor-widget-text-editor\" data-id=\"52d3912\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Self-employment status.<\/b>\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzEsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvYnVzaW5lc3Nlcy9zbWFsbC1idXNpbmVzc2VzLXNlbGYtZW1wbG95ZWQvc2VsZi1lbXBsb3llZC1pbmRpdmlkdWFscy10YXgtY2VudGVyIiwiYnVsbGV0aW5faWQiOiIyMDI0MDIwMi44OTU3MzUyMSJ9.uI2uftnTQLMNl960BQcxr7JwIviYP8ihjdUTNh8SX24\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">Self-employed individuals<\/a>\u00a0must file an annual return and pay estimated tax quarterly if they had net earnings from self-employment of $400 or more.<\/p><p><b>Status as a dependent.<\/b>\u00a0A person claimed as a dependent may still have to file a return. It depends on their gross income, including:<\/p><ul><li><b>Earned income.<\/b>\u00a0This includes salaries, wages, tips, professional fees and other amounts received as pay for work performed.<\/li><li><b>Unearned income.<\/b>\u00a0This is investment-type income and includes interest, dividends and capital gains, rents, royalties, etc. Distributions of interest, dividends, capital gains and other unearned income from a trust are also unearned income to a beneficiary of the trust.<\/li><\/ul><p>A parent or guardian must file a tax return for dependents who need to file but aren&#8217;t able to file for themselves.<\/p><p><b>Potential benefits when people file a tax return<\/b><\/p><p><b>Get money back.<\/b>\u00a0In some cases, people may get money back when they file a tax return. For example, if their employer withheld taxes from their paycheck, the person may be due a refund.<\/p><p><b>Avoid interest and penalties.<\/b>\u00a0People can avoid interest and penalties by filing an accurate tax return on time and paying any tax they owe before the deadline. They should file on time or\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzIsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvZm9ybXMtcHVicy9leHRlbnNpb24tb2YtdGltZS10by1maWxlLXlvdXItdGF4LXJldHVybiIsImJ1bGxldGluX2lkIjoiMjAyNDAyMDIuODk1NzM1MjEifQ.2A7LwdW9it2ZUZ--yyGDkCaM1lREs3Bj2oFgbV_Iu2A\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">request an extension<\/a>\u00a0to avoid some penalties. If they owe a tax debt and can&#8217;t pay all or part of it, the\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzMsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvcGF5bWVudHMvZ2V0LWhlbHAtd2l0aC10YXgtZGVidCIsImJ1bGxldGluX2lkIjoiMjAyNDAyMDIuODk1NzM1MjEifQ.ajRqvcC8v0E2uOokBb8BE9bWmcUXkzKKkmPVpyJX_3A\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">IRS can help<\/a>.<\/p><p><b>Build Social Security benefits.<\/b>\u00a0Reporting income on a tax return is important for self-employed people because this information is used to calculate their Social Security benefit. Unreported income can lead to an incorrect calculation.<\/p><p><b>Get an accurate picture of income.<\/b>\u00a0When people report all their income, they give lenders an accurate financial picture to determine the loan amounts and rates they may receive.<\/p><p><b>Get peace of mind.<\/b>\u00a0When people file an accurate tax return and pay their taxes on time, they know that they&#8217;re doing the right thing to follow the law.<\/p><p><b>Some people should consider filing even if they aren&#8217;t required<\/b><\/p><p>People may want to file even if they make less than the filing threshold because they may get money back. This could apply to them if they:<\/p><ul><li>Have had federal income tax withheld from their pay<\/li><li>Made estimated tax payments<\/li><li>Qualify to claim\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzQsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvY3JlZGl0cy1kZWR1Y3Rpb25zLWZvci1pbmRpdmlkdWFscyIsImJ1bGxldGluX2lkIjoiMjAyNDAyMDIuODk1NzM1MjEifQ.9o9m8YhccRoJYFk5P260hEXkpPz04_V-mPc1v-L7brU\/s\/3087731371\/br\/236475317971-l\" target=\"_blank\" rel=\"noopener noreferrer\">tax credits<\/a>\u00a0such as:<ul><li>Earned Income Tax Credit<\/li><li>Child Tax Credit<\/li><li>American Opportunity Tax Credit<\/li><li>Credit for Federal Tax on Fuels<\/li><li>Premium Tax Credit<\/li><li>Health Coverage Tax Credit<\/li><li>Credits for Sick and Family Leave<\/li><li>Child and Dependent Care Credit.<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d118bbb elementor-widget elementor-widget-spacer\" data-id=\"d118bbb\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72f0202 elementor-post-navigation-borders-yes elementor-widget elementor-widget-post-navigation\" data-id=\"72f0202\" data-element_type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/randetaxaccounting.com\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-theme-elements.min.css\">\t\t<div class=\"elementor-post-navigation\">\n\t\t\t<div class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation__separator-wrapper\">\n\t\t\t\t\t<div class=\"elementor-post-navigation__separator\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"elementor-post-navigation__next elementor-post-navigation__link\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Issue Number:\u00a0 \u00a0 FS-2024-02 Inside This Issue\u00a0 Here&#8217;s who needs to file a tax return in 2024 Most\u00a0U.S. citizens\u00a0and\u00a0permanent residents\u00a0who work in the United States need to file a tax return if they make more than a certain amount for the year. The IRS has a variety of information available on IRS.gov to help taxpayers, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2805,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/2813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2813"}],"version-history":[{"count":16,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/2813\/revisions"}],"predecessor-version":[{"id":2831,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/2813\/revisions\/2831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=\/wp\/v2\/media\/2805"}],"wp:attachment":[{"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/randetaxaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}