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Oh No it's April! - Here is the Basics Tax Information You Need to Know  
INFORMATIVE 

Tags: Taxes, April 15th, Tax Information, Basic Tax Info

It's almost that time again and if you have never filled taxes again you may be unsure of what you need to do. Here are some of the basics.

1.	Do I have to File? - All U.S. Citizens or Residents of the U.S. need to file taxes. If you are single and under 65 you must file your taxes if your gross income for the year was $8,200. If you are over 65 you only need to file if your gross income is $9,450.
2.	Filing Status - This simply depends on whether you are single or married. This is determined by December 31st, the last day of the tax year.
3.	Expatriates - If you are a United States citizen living outside the U.S. you need to file taxes if you meet the filling requirements. You can locate these requirements in Tax Guide for U.S. Citizens and Resident Aliens Abroad.
4.	Residency Status - If you are a resident alien for the entire year you must file taxes like any other U.S. citizen. If you are a nonresident alien, check Publication 519 to see if U.S. income tax laws apply to you. . If you are a resident alien for part of the tax year and a nonresident alien for the rest of the year, you are a dual-status taxpayer.
5.	Children under 14 - If the child's only income is interest and dividends than the child's income can be included under their parent's income and the child doesn't need to file a claim.
6.	The Self-Employed - You must file a tax return if your net earnings from your self-employment was $400 or more. You should defiantly file if you are able because it can qualify you for Social Security benefits.
7.	Form 1040EZ - This is the simplest form to use. You may use it if your filing status is single, married or filing jointly; you and your spouse were under age 65 at the end of 2005; you don't claim dependents; your taxable income is less than $100,000; your income is only from wages, salaries, tips, unemployment compensation, Alaska Permanent Fund dividends, taxable scholarships or fellowship grants, and taxable interest of $1,500 or less.
8.	Filling Deadline - The filling deadline is always April 15th unless April 15th falls on a Saturday or Sunday in which cases it is the Monday after the 15th.
9.	Social Security Number - You have to enter your SS number in the space provided on the form.
10.	Paying - If you have an amount due on your tax return, you can pay by check, money order or credit card. If you filed electronically, you also may be able to make your payment electronically

Lister: Andrea

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