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Income Tax- Who Must File in 2016 Over Age 65- Part 5

As discussed in the previous posts an individual must file an income tax return for tax year 2015 depending upon filing status, gross income, and whether the individual could be claimed as a dependent on another’s tax return. Additional factors in determining the necessity to file, include the individual’s unearned income, earned income, and gross income and whether any “listed” conditions apply.

You should file a tax return if you can get money back. Even if you are not required to file a return, if one of the following applies you probably should file:

  • You had income tax withheld from your pay.
  • You made estimated tax payments for the year or had any of your overpayment for last year applied to this year’s estimated tax.
  • You qualify for the earned income credit.
  • You qualify for the additional child tax credit.
  • You qualify for the refundable American opportunity education credit.
  • You qualify for the health coverage tax credit.
  • You qualify for the credit for federal tax on fuels. i

Aaron E. Futterman, CPA, Esq. is a partner in the law firm of Futterman & Lanza, LLP with offices in Smithtown, NY and clients throughout Suffolk, Nassau, Queens, Brooklyn, Bronx, Richmond, New York, Westchester and Rockland Counties. He concentrates his practice to Elder Law, Medicaid Planning, Medicaid Applications, Estate Planning, Probate, Estate Taxes, and Estate Administration.

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