Who Is Exempt Of Paying Income Taxes ?

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List-Of-Tax-Deductions      When you are about to file your returns, you will have several questions about the tax rebates and tax deductions. Also, you may be confused about what can qualify as a deduction and what cannot. Even though most of the procedures may seem straight forward, at the last minute you are bound to have more questions about the procedure. More..






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Who Is Exempt Of Paying Income Taxes ? 

The US Internal Revenue Service requires that all citizens and legal residents of the country, who earn a taxable income, have to pay their taxes. Their source of income may be anything, but they still have to pay their taxes. Whether they accept check payments or cash payments, their income is still taxable. However, there are some exemptions that apply to a rare category of people who are exempt from paying taxes.

A certain set of people who met a specific set of guidelines need not pay income taxes. Here is the rule according to the IRS website.

People, who are under the age of 65 and single and are earning below $8,950, married couples under the age of 65 and have a gross income of $17,900, head of the household with gross income of $11,500, and widow with a dependent child with a gross income of $14,400, need not pay taxes.

For people, who are the above age of 65, single with gross income of $10,500, married and above 65 years with gross income of $20,000, if one spouse was older than 65 and gross income of $18,950, head of the household with income of $12,850, and a widow or widower with $15,450 need not pay taxes.

Children who are under the age of 19 were not required to file tax return. They are treated as dependents; however, their income for the year should not exceed $3,650. If it does, then they are not considered dependents and they have to file their taxes.

Self employed people who earn less $400 net are exempt from paying income taxes.

Non resident aliens are also exempt from filing taxes when they do not earn an income from tips, scholarships, wages, grants or dividends.

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Who Is Exempt Of Paying Income Taxes

 

 

 

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( Who Is Exempt Of Paying Income Taxes ? )