{"id":22933,"date":"2020-12-23T14:27:00","date_gmt":"2020-12-23T19:27:00","guid":{"rendered":"https:\/\/blog.eztaxreturn.com\/?p=22933"},"modified":"2023-06-04T14:52:42","modified_gmt":"2023-06-04T19:52:42","slug":"2-reasons-to-file-a-tax-return-even-if-you-dont-have-to","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/2-reasons-to-file-a-tax-return-even-if-you-dont-have-to\/","title":{"rendered":"2 Reasons to File a Tax Return Even if You Don\u2019t Have To"},"content":{"rendered":"\r\n

Don’t lose money by not filing a tax return.\u00a0 In July, the IRS<\/a> revealed that it had more than $1.5 billion in unclaimed refunds because 1.4 million people didn\u2019t file their 2016 federal return. The average refund was around $861.\u00a0 Even if you aren\u2019t required to file, there are a couple reasons to file a tax return. With ezTaxReturn’s step-by-step guidance, you can do your federal and state taxes in just 30 minutes.<\/p>\r\n

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What are the filing requirements for tax year 2020?<\/strong><\/h2>\r\n\r\n\r\n\r\n

Exactly who needs to file a tax return<\/a> depends on your age, income and filing status<\/a>.\u00a0 If you earned more than the amounts depicted in the chart below, you are required to file a federal tax return.<\/p>\r\n\r\n\r\n\r\n

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Filing status and age at the end of 2020<\/th>\r\nIncome required to file<\/th>\r\n<\/tr>\r\n<\/thead>\r\n
Single under 65<\/td>\r\n$12,400<\/td>\r\n<\/tr>\r\n
Single age 65 or older<\/td>\r\n$14,050<\/td>\r\n<\/tr>\r\n
Married filing jointly, both spouses under 65<\/td>\r\n$24,800<\/td>\r\n<\/tr>\r\n
Married filing jointly, one spouse 65 or older<\/td>\r\n$26,100<\/td>\r\n<\/tr>\r\n
Married filing jointly, both spouses 65 or older<\/td>\r\n$27,400<\/td>\r\n<\/tr>\r\n
Married filing separately, any age<\/td>\r\n$5<\/td>\r\n<\/tr>\r\n
Head of household under 65<\/td>\r\n$18,650<\/td>\r\n<\/tr>\r\n
Head of household age 65 or older<\/td>\r\n$20,300<\/td>\r\n<\/tr>\r\n
Qualifying widow(er) under 65<\/td>\r\n$24,800<\/td>\r\n<\/tr>\r\n
Qualifying widow(er) age 65 or older<\/td>\r\n$26,100<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n

Here are two reasons to file a tax return even if you don’t have to.<\/p>\r\n

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Get Started<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n

\u00a0<\/h2>\r\n

You may qualify for a refundable credit<\/strong><\/h2>\r\n\r\n\r\n\r\n

The main reason to file a tax return is because there are several tax credits which can produce a refund if they reduce your tax liability<\/a> below zero.\u00a0 You can receive a refundable credit for things like attending college, earning a low income, or having a child.\u00a0 Here are some popular ones you may be able to claim.<\/p>\r\n\r\n\r\n\r\n