Sunday, January 11, 2009

Today's Fly Or Die Commerce Report: Who Is Required To File Taxes?

According to CNN Money: "The IRS requires anyone who received a W2 from their employer and made at least $8,950 (if you're single and under 65 years old), or made at least $400 if you're self employed, to file a tax return. If you're anticipating a tax refund, you must file- even if you didn't work at all.

If you only had unemployment compensation throughout the year, you may owe some tax on the checks you received. A severance package could also give you a tax bill, as could dividends and interest from investment income."

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