Identify two circumstances in which you, a CPA, would strongly advise an individual whose gross income was
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Question:
Identify two circumstances in which you, a CPA, would strongly advise an individual whose gross income was less than the amount shown in Table 8-4 to file a tax return nevertheless. Explain your reasoning, of course.
2018 & 2019 Filing Requirements
Filing Status | 2018 Gross Income | 2019 Gross Income |
---|---|---|
Single | $12,000 | $12,200 |
Single—age 65 or older | 12,000 | 12,200 |
Married, filing jointly | 24,000 | 24,400 |
Married, filing jointly—one spouse 65 or older | 24,000 | 24,400 |
Married, filing jointly—both 65 or older | 24,000 | 24,400 |
Surviving spouse | 24,000 | 24,400 |
Surviving spouse—age 65 or older | 24,000 | 24,400 |
Married, filing separately | 0 | 0 |
Head of household | 18,000 | 18,000 |
Dependent with unearned income | 1,050 | 1,100 |
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th edition
Authors: Gerald E. Whittenburg, Steven Gill
Posted Date: