The answer to your questions depends largely on other factors. I'd need to know your marital status and income information, how much you receive from Social Security and how much from your pension. I can give you some general guidelines as set out by the IRS.
_ In cases where Social Security is your only source of income, your income is not taxable, therefore there is no filing requirement. _ If you derive income from other sources in addition to Social Security it may become taxable if your modified adjusted gross income exceeds the "base" amount for your filing status.
_ To determine your "base" amount there is a worksheet in the Form 1040 instruction booklet on page 25. (Link: http://www.irs.gov/pub/irs-pdf/i1040gi.pdf ).
_ 2007 base amounts are:
· $32,000 for married couples filing jointly.
· $25,000 for single, head of household, qualifying widow/widower with a dependant, or married individuals filing separately who did not live with their spouses at any time during the year.
· $0 for married persons filing separately who lived together during the year.
Note: HOW TO FIGURE OUT YOUR BASE AMOUNT
1. Add one-half of the total Social Security you received to all other income, including any tax exempt interest and other exclusions from income.
2. Then, compare this total to the base amount of your filing status. If the total is more than your base amount, then some of your benefits may be taxable.
Source: http://www.irs.gov/newsroom/article/0,,id=179091,00.html
Hope this helps. Roger Hadad, Effectur Inc., www.irs101.blogspot.com
I think saving account interest will not be considered as earning for senior citizen,it should be exempted.
Yes, retired people still have incomes (usually) and therefore still file income tax returns.
Yes absolutely. All retired military personnel are required to file a tax return on all withheld federal taxes shown on their form 1099R.
If you are 21 you have to file taxes
have no money how can i file my taxes
No, you cannot file your taxes at the DMV.
Yes you can file taxes if you are on welfare.
Oh yes, being retired does not excuse you from paying taxes. Of course, you are probably in a lower tax bracket.
can i file creditcards interest on my taxes
Do I have to file personal taxes if I own a small LLC? Or just file business taxes.
The best website to file taxes is the IRS website. You can file your taxes for free on this site.
You can file up to 2 years back taxes.
Sure. If you have income, you are required to file income taxes.