Q. Should I file a tax return this year?

Q. Should I file a tax return this year?

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 return! When you file a tax return, the worst that can happen is you pay the taxes you owe…

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
return!

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.

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