THE REVERE ADVOCATE - Friday, February 15, 2019 Page 19 by Jim Miller Do I Need to File a Tax Return This Year? Dear Savvy Senior, What are the IRS income tax fi ling requirements for retirees this tax season? My income dropped way down when I had to retire last year, so I’m wondering if I need to fi le a tax return this year. Retired Ron Dear Ron, Whether or not you are required to fi le a federal income tax return this year actually depends on several factors: how much you earned last year (in 2018); the source of that income; your age; and your fi ling status. Here’s a rundown of this tax season’s IRS tax fi ling requirement thresholds. For most people, this is pretty straightforward. If your 2018 gross income – which includes all taxable income, not counting your Social Security benefi ts, unless you are married and fi ling separately – was below the threshold for your fi ling status and age, you may not have to fi le. But if it’s over, you will. • Single: $12,000 ($13,600 if you’re 65 or older by Jan. 1, 2019). • Married fi ling jointly: $24,000 ($25,300 if you or your spouse is 65 or older; or $26,600 if you’re both over 65). • Married fi ling separately: $5 at any age. • Head of household: $18,000 ($19,600 if age 65 or older). • Qualifying widow(er) with dependent child: $24,000 ($25,300 if age 65 or older). To get a detailed breakdown on federal fi ling requirements, along with information on taxable and nontaxable income, call the IRS at 800-829-3676 and ask them to mail you a free copy of the “Tax Guide for Seniors” (publication 554) or see IRS.gov/pub/irs-pdf/p554.pdf. Check Here Too There are, however, some other fi nancial situations that can require you to fi le a tax return, even if your gross income falls below the IRS fi ling requirements. For example, if you earned more than $400 from self-employment in 2018, owe any special taxes like an alternative minimum tax, or get premium tax credits because you, your spouse or a dependent is enrolled in a Health Insurance Marketplace (Obamacare) plan, you’ll need to fi le. You’ll also need to fi le if you’re receiving Social Security benefi ts, and one-half of your benefi ts plus your other gross income and any tax-exempt interest exceeds $25,000, or $32,000 if you’re married and fi ling jointly. To fi gure all this out, the IRS off ers an interactive tax assistant tool on their website that asks a series of questions that will help you determine if you’re required to fi le, or if you should fi le because you’re due a refund. It takes less than 15 minutes to complete. You can access this tool at IRS.gov/fi ling – click on “Do I Need to File?” Or, you can get assistance over the phone by calling the IRS helpline at 800-829-1040. You can also get faceto-face help at a Taxpayer Assistance Center. See IRS.gov/localcontacts or call 800-829-1040 to locate a center near you. Check Your State Even if you’re not required to fi le a federal tax return this year, don’t assume that you’re also excused from fi ling state income taxes. The rules for your state might be very diff erent. Check with your state tax agency before concluding that you’re entirely in the clear. For links to state tax agencies see Taxadmin.org/state-tax-agencies. Tax Preparation Help If you fi nd that you do need to fi le a tax return this year, you can get help through the Tax Counseling for the Elderly (or TCE) program. Sponsored by the IRS, TEC provides free tax preparation and counseling to middle and low-income taxpayers, age 60 and older. Call 800-906-9887 or visit IRS.treasury.gov/freetaxprep to locate a service near you. Also check with AARP, a participant in the TCE program that provides free tax preparation at around 5,000 sites nationwide. To locate an AARP Tax-Aide site call 888-227-7669 or visit AARP.org/fi ndtaxhelp. You don’t have to be an AARP member to use this service. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. 1. How many tiles does a Scrabble “hand” have? 2. Which city had the first Trump Plaza? 3. What fruit juice is in a Cape Codder? 4. On Feb. 16, 1933, the U.S. Senate voted to repeal the 18th Amendment to overturn what? 5. What female American Olympian ice skater of Japanese descent appeared in the “Got Milk” mustache advertisements? 6. Paso doble is a dance associated with what contest? 7. What character in the game “Clue” is blue? 8. On Feb. 17, 1801, the U.S. House broke an Electoral College tie and elected whom as president? 9. What monthly exploration magazine’s museum is in Washington, D.C.? 10. What famous cowboy political humorist was called “The Cherokee Kid”? 11. On Feb. 18, 2001, what car racer died in the Daytona 500’s last lap? 12. In what U.S. state would you find the Badlands, the Corn Palace and Mount Rushmore? 13. What is North America’s largest native berry? (Hint: starts with P.) 14. On Feb. 21, 1902, the Stanley brothers incorporated the Stanley Motor Carriage Company in Maine; what legendary car did it make? 15. Which bird lives longest: albatross, eagle or penguin? 16. Recordings of mating tortoises were used to make dinosaur noises in what movie? 17. What has hen-ofthe-wood and oyster varieties? 18. What football coach said, “If you aren’t fired with enthusiasm, you will be fired with enthusiasm”? (Hint: initials VL.) 19. Which country exports the most coffee? 20. The expression “strong suit” comes from what card game? Answers below, please no cheating! FROM PAGE 19 Looking for a home loan? WE ’RE HERE TO DO RIGHT BY YOU . 15 YEAR 30 YEAR .% RATE .% RATE L .% APR* .% APR* Learn more about our rates at EVERETTBANK . COM 1. Seven 2. Atlan c City 3. Cranberry 4. Prohibi on 5. Kris Yamaguchi 6. Bullfi gh ng 7. Mrs. Peacock 8. Thomas Jeff erson 9. “Na onal Geographic” 10. Will Rogers 11. Dale Earnhardt 12. South Dakota 13. Persimmon 14. The Stanley Steamer 15. Albatross 16. “Jurassic Park” 17. Mushrooms 18. Vince Lombardi 19. Brazil 20. Bridge
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