Taxes are truly one of the most egalitarian of institutions. Young and old, rich and poor, living in the United States or abroad, most Americans must deal with paying what has been described as the price of a civilized society.
But the U.S. tax code’s reach, while long, is not absolute. In fact, for some folks, April 15 is just another day because they don’t have to worry about filing a return.
How do these lucky individuals get off the tax hook? They don’t meet the filing requirements. But arriving at that fortunate tax place requires assessment of three different factors.
Generally, whether the IRS requires a 1040 from you is determined by the following:
1. Your income
2. Your filing status