Most U.S. citizens and permanent residents who earn income must file a tax return. Filing is required if your income exceeds specific thresholds, if you have net self-employment earnings over $400, or if other tax situations apply to you. Even if you are not required to file, doing so may be beneficial if you qualify for a refund.
Income Requirements for Filing Taxes
The amount of income that requires you to file a tax return depends on your age and filing status. Below are the income thresholds for the 2024 tax year:
If You Are Under 65 at the End of 2024:
- Single: $14,600 or more
- Head of Household: $21,900 or more
- Married Filing Jointly:
- $29,200 (both spouses under 65)
- $30,750 (one spouse under 65)
- Married Filing Separately: $5 or more
- Qualifying Surviving Spouse: $29,200 or more
If You Are 65 or Older at the End of 2024:
- Single: $16,550 or more
- Head of Household: $23,850 or more
- Married Filing Jointly:
- $30,750 (one spouse under 65)
- $32,300 (both spouses 65 or older)
- Married Filing Separately: $5 or more
- Qualifying Surviving Spouse: $30,750 or more
Even if you do not meet these income thresholds, filing may result in a tax refund, especially if taxes were withheld from your paycheck.
Filing Requirements for Dependents
If a parent or another taxpayer can claim you as a dependent, different income thresholds apply. The IRS distinguishes between earned income (e.g., wages, salaries, tips) and unearned income (e.g., interest, dividends, unemployment benefits).
For Dependents Under 65:
- Single:
- Unearned income over $1,300
- Earned income over $14,600
- Gross income greater than the larger of $1,300 or earned income (up to $14,150) plus $450
- Married:
- Gross income of $5 or more if filing separately from a spouse who itemizes deductions
- Unearned income over $1,300
- Earned income over $14,600
- Gross income greater than the larger of $1,300 or earned income (up to $14,150) plus $450
For Dependents 65 and Older:
- Single:
- Unearned income over $3,250
- Earned income over $16,550
- Gross income greater than the larger of $3,250 or earned income (up to $14,150) plus $2,400
- Married:
- Unearned income over $2,850
- Earned income over $16,150
- Gross income greater than the larger of $2,850 or earned income (up to $14,150) plus $2,000
Special Rules for Blind Dependents
Blind dependents have higher income thresholds before filing is required.
For Blind Dependents Under 65:
- Single:
- Unearned income over $3,250
- Earned income over $16,550
- Gross income greater than the larger of $3,250 or earned income (up to $14,150) plus $2,400
- Married:
- Unearned income over $2,850
- Earned income over $16,150
- Gross income greater than the larger of $2,850 or earned income (up to $14,150) plus $2,000
For Blind Dependents 65 and Older:
- Single:
- Unearned income over $5,200
- Earned income over $18,500
- Gross income greater than the larger of $5,200 or earned income (up to $14,150) plus $4,350
- Married:
- Unearned income over $4,400
- Earned income over $17,700
- Gross income greater than the larger of $4,400 or earned income (up to $14,150) plus $3,550
Maximum Amount to Pay Taxes
There is no fixed maximum amount of tax an individual can pay; it depends on taxable income, deductions, credits, and applicable tax rates. The federal income tax brackets for 2024 are:
- 10%: Up to $11,600 (single), $23,200 (married filing jointly)
- 12%: $11,601 – $47,150 (single), $23,201 – $94,300 (married filing jointly)
- 22%: $47,151 – $100,525 (single), $94,301 – $201,050 (married filing jointly)
- 24%: $100,526 – $191,950 (single), $201,051 – $383,900 (married filing jointly)
- 32%: $191,951 – $243,725 (single), $383,901 – $487,450 (married filing jointly)
- 35%: $243,726 – $609,350 (single), $487,451 – $731,200 (married filing jointly)
- 37%: Over $609,350 (single), over $731,200 (married filing jointly)
Should you file even if you don’t have to?
Filing a tax return may be beneficial even if your income is below the filing threshold. You may be eligible for:
- A tax refund if your employer withheld federal taxes
- The earned income tax credit (EITC)
- The child tax credit
- Other refundable tax credits
If you’re unsure whether you need to file, use the IRS online tool to determine your filing requirements. Filing a return could put extra money in your pocket!
