what is the cutoff for making money that you have to file taxes?

6 Answers

  • 4 weeks ago

    If you are single, when your taxable income exceeds the amount of your standard deduction, $12,400 for 2019, you begin to owe federal tax.

    Not all states follow federal rules and you could start owing state tax on the first dollar you earn.

    If you are self-employed, the same rules apply to income tax, but you begin to owe the self-employment tax when your business profit hits $400. You can owe self-employment tax and not owe any income tax.

    • Coffee Drinker
      Lv 7
      4 weeks agoReport

      $400 gross revenue triggers requirement to file a federal tax return, even if there is no net profit, because you have to file the return to show that you had expenses.

    • Login to reply the answers
  • Anonymous
    1 month ago

    Its some small amount. $6000 or $12,000 or something like that. Unless you are self employed in which case its far less. $400 or $600 or something. April 15th is the deadline for the prior year unless you file for an extension.

    • Login to reply the answers
  • Mark
    Lv 7
    1 month ago

    If you mean the cutoff date, then Dec 31 of any given year.  If you mean the MONETARY cutoff $6000 + whatever you personal exemption is (it changes year to year, but currently, I think it's fairly high).

    Also, if you are due a refund, you don't even have to fill one out (but I would, just to make sure) - but if you OWE extra money, you have to file one.

  • 1 month ago


    If you are self employed, you have to file if you make over $400 for the year.

    If you are single and an employee, you have to file if you make over $12,200 for the year.

    However, if you are an employee and make under this amount, you still me want to file if you had taxes withheld.

    • Login to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 1 month ago

    December 31.  The personal income taxes you file this year will cover from Jan 1 to Dec 31 2019.  

    • NA
      Lv 7
      1 month agoReport

      Additional footnote, it's the money received by 12/31.  If you work 12/24-12/31 and get paid 1/7, it's next year's income.

    • Login to reply the answers
  • David
    Lv 6
    1 month ago

    You don't have to make money at all to have to file taxes. If you have zero income for the tax year, you have to file taxes. If you LOSE money during a tax year, you have to file taxes.

    You have to file every year, whether you owe or not. Whether you make money or not. If you have a SSN or ITIN, then you need to file out a federal tax form every tax year. You probably have to fill out a state tax form as well. Every year.

Still have questions? Get your answers by asking now.