A. Generally speaking, you should file an income tax
return, even if you have low or no income. There are several reasons why:
You may qualify for tax credits based on
your income, age, and other factors.
You may qualify to have money withheld
from your paycheck returned to you.
Many income-based loan and grant
programs require you to prove your income using your prior year tax return.
You can’t get a tax refund without a tax
When you file a tax
return, the worst that can happen is you pay the taxes you owe and stay in
compliance with the law. The best case scenario is a check from Uncle Sam.