Your minimum income requirement to file a 2016 tax return depends on your income, age, and filing status. What Are the Minimum Income Requirements to File a 2016 Federal Income Tax Return? Here are types of income you may need to consider when deciding whether or not you have to file a 2016 return:Įxamples of Taxable Income: Wages and salaries, tips and gratuities, unemployment benefits, canceled/forgiven debt, self-employment income.Įxamples of Non-Taxable Income: Child support, insurance proceeds (accident, casualty, health, life), meals and lodging for the convenience of employer, Veterans’ benefits, Aid to Families with Dependent Children (AFDC). Your gross income usually includes taxable income and non-taxable income. However, there are reasons why you may still want to file. If you earned below the minimum income for your filing status, you may not be required to file a Federal Tax Return. The minimum income levels for the various filing statuses are listed in the table below.

The minimum income required to file a tax return for Tax Year 2016 depends on your income, age, and filing status. “If you owe money, you need to estimate the amount, then file your extension and make your payment by April 15.Contact a Taxpert with your Tax Questions What Are the Minimum Income Requirements to File a 2016 Federal Income Tax Return? “The extension only pushes back the due date for the paperwork,” TurboTax explains. If you can’t pay your taxes in full, the IRS offers payment options such as installments. To pay this amount, you can use IRS Direct Pay online or by phone. If you don’t, you’ll pay interest on the amount anyway and may face a penalty as well. A tax extension mostly just allows you get your records in order. You still have to estimate how much you’ll owe in taxes and pay that estimated amount by April 15. Just because you’re filing for an extension doesn’t mean you’ll have more time to pay what you owe. These forms don’t ask you to explain why you are filing for an extension. You can also use Form 4868, as long as you mail it to the IRS by April 15. One way is to use Internal Revenue Service’s Free File to electronically file a request for an extension. There are a few ways to file for an extension, a process that you must complete by April 15. Scrambling to organize your finances and pay your taxes by Wednesday? If you live outside the country or file according to the fiscal year rather than the calendar year, you might be able to file for a tax extension and get an extra six months to fill out all those forms.

How to file a 2016 tax extension