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DO you have to file US federal income tax after age 70?

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DO you have to file US federal income tax after age 70?

Postby mael » Sat Mar 17, 2012 8:09 am

Yes.
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DO you have to file US federal income tax after age 70?

Postby niyol » Sat Mar 17, 2012 8:10 am

There's no exemption once you reach age 70, if that's what you're asking.

If you meet income requirements or other conditions that would require you to file, you still have to file, regardless of your age.
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DO you have to file US federal income tax after age 70?

Postby arvin » Sat Mar 17, 2012 8:25 am

Your age does not exempt you from having to file a federal tax return at the end of the year. If you meet the income requirements for filing a tax return, you must file and pay taxes.

Singles
If you are single and not listed and a dependent on another person's tax return, the minimums for filing a federal tax return are higher. If you are younger than 65, you must file a return if your taxable income exceeds $9,350. If you are older than 65, you must file if your taxable income is over $10,750.

Heads of Household
To file as a head of household, you must have at least one dependent and not be married. If you use this filing status, you must file a tax return if you are less then 65 years old and have at least $12,000 in taxable income. If you are older than 65, the threshold increases to $13,400.
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DO you have to file US federal income tax after age 70?

Postby maureo » Sat Mar 17, 2012 8:33 am

If you have taxable income over the limit for your filing status, of course.

There are no exceptions for age in the tax code.

I just filed my parents' (ages 80 and 81) tax return and I have had tax clients in their late 90s.
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DO you have to file US federal income tax after age 70?

Postby niyol » Sat Mar 17, 2012 8:45 am

the only reason you don't file at any age is if you don't have reportable and taxable income
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DO you have to file US federal income tax after age 70?

Postby ephram24 » Sat Mar 17, 2012 8:54 am

The youngest client I ever had was 10 months old. The eldest was 109 years old. Both paid significant taxes.

While the amount of tax that you must pay may be affected by your age, the basic requirement to pay taxes is based upon your income not your age.
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