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Show Elderly Taxpayers May Not Need To File Tax Returns More than 2.9 million persons per-sons may have unnecessarily filed a tax return last year, the Internal Revenue Service said. Approximately 81 percent of these are people 65 years of age or older who do not meet the minimum income requirement require-ment for filing a tax return. RECEIVING A tax package in the mail does not mean a person is required to file. Frequently Fre-quently older taxpayers receive re-ceive a tax package, even if filing is unnecessary, since the IRS cannot assume that a person per-son does not have to file a tax return and therefore supplies most people with forms nd instructions. For persons age 65 or older, the minimum filing level is higher than the regular filing requirements, the IRS stressed. stres-sed. The filing requirements are as follows: A SINGLE person age 65 or older must have a minimum gross income of $4,300; when married and filing a joint return with one spouse age 65 or older, old-er, the minimum is $6,400; and the minimum is $7,400 if both spouses are age 65 or older. There are some situations where a person may not meet the minimum filing requirements, require-ments, yet still need to file a return, the IRS said. A person must file if he or she had at least $400 in net earnings from self-employment. ALSO, A person must file a return if any advanced Earned Income Credit payments have been received, or if any FICA (Social Security) tax on unreported unre-ported tip income, minimum tax, or tax on IRA (Individual Retirement Arrangement) is owed. Filing a return is necessary neces-sary also to get a refund of any tax withheld from income, or to claim the Earned Income Credit. For details about filing requirements, re-quirements, call the IRS Forms-Tax Information number num-ber listed in the telephone directory. |