Do you need to file a tax return? (By: Andrea G.)
Let me guess, you are an unmarried dependent student and you're wondering if you have to file a tax return due to your salary. Most people assume that you have to earn a certain amount of money until you HAVE TO file your taxes, and according to the IRS “An unmarried dependent student must file a tax return if his or her earned or unearned income exceeds certain limits.”
Basically, you may not need to file a taxes, but there are reasons why you should file your taxes:
- If you had pay withheld from your pay due to taxes and want a refund, you have to file your taxes.If you had taxes withheld from your pay, you must file a tax return to receive a tax refund.
- If you are claiming education credits, which applies to the first four years of postsecondary education, you must file to be refunded the American Opportunity Credit.
- Also if you overpaid your estimated tax, you must file to receive the refund.
The bottom line is: you may not need to file a tax return due to your income, but there are certainly reasons to file your taxes
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