Tax Law (Questions About Taxes)/fornv@webtv.net

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Question
I am over 65 and my only income is $1134 per month from social security. Do I have to file a tax return_

Answer
Thanks for your question. You don’t have to file your taxes. You will only need to file a federal tax return as an individual if your total income is more than $25,000.
Although, you should file to get a refund for any income tax withheld. You should also file if you are eligible for earned income credit; American opportunity credit; credit for federal tax on fuels; refundable credit for prior year minimum tax; health coverage tax credit.
See bellow:
Chart A (IRS website):
“ Do not include any social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time in 2011 or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly).”

http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/493/~/paying-income-tax-on-s
http://www.irs.gov/pub/irs-pdf/i1040.pdf

Tax Law (Questions About Taxes)

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Bruno Drummond, CPA & MSA

Expertise

International Taxation, Corporate and Individual Taxation.

Experience

Corporate and Pass-true entities.

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AICPA & MSCPA

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CPA & MSA.

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