Taxpayers risk losing money when deciding not to file returns
Apr 02, 2014 | 852 views | 0 0 comments | 4 4 recommendations | email to a friend | print

Filing status, income and age help determine if a worker must file a tax return. Whether a taxpayer is claimed as a dependent also is a factor. For example, a dependent earning more than $6,100 in wages must file a tax return while a single worker not claimed as a dependent may earn up to $10,000 and not be required to file.

Even those not required to file a tax return should file a return to get back taxes withheld and/or to claim frequently overlooked tax credits such as the Earned Income Tax Credit, Additional Child Tax Credit or American Opportunity Tax Credit for higher education if eligible.

In addition to filing requirements, late-season tax filers have questions about casualty losses, what paperwork they need to file an accurate return and what to do it if they can’t pay their taxes by the April 15 deadline. For more information about filing requirements or other tax topics, contact the H&R Block Media Desk at 816-854-4287 to talk to a tax professional.

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