There are three factors that decide whether a person is eligible to pay taxes or not. One is the age of the person, the second is the status of filing, and the third is the type of income.
Here are some typical examples on who should file for tax returns. A single person who is under the age of 65 years and earns a gross income of $8,950 has to file tax. If you are above 65 and earn $10,300 gross income, then you need to file. There are several exceptions to the above rule and there are so many ramifications that one can get confused. However, when your employer gives you a monthly income statement, you will automatically come to know whether there is a need to pay taxes or not. Also, there are several ways in which you can save on taxes. The state’s IRS website lists the rules and the ways that you can save on taxes clearly. Also, a lot of information is available on the internet that helps you with guidelines to save on taxes. The real problem comes with people who are on wages. People who earn daily wages are paid by cash, and there is not income proof as such. Their income also varies every month. So, there is a minimum earning amount requirement even in this category. Daily wage workers, who are not paid by checks and no taxes are deducted by their employers, are considered to be self-employed by the IRS. The minimum wage for paying taxes in these circumstances is $400 net.
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