Tax FAQs & Useful Resources

Whether you need to file a federal tax return depends on your income, filing status, age, and type of income. In general, if your income is above certain IRS thresholds for the year, you are required to file. Some people also need to file even with lower income (for example, if self‑employed or if certain taxes apply).

`Most taxpayers should gather: • Personal info: Social Security numbers or ITINs for you, your spouse, and dependents • Income forms: W‑2s, 1099s (for self‑employment, interest, dividends, unemployment, etc.) • Deductions/credits: Receipts or statements for items like mortgage interest, property taxes, education expenses, childcare, charitable donations, and medical expenses (if applicable) • Other items: Last year’s tax return, estimated tax payment records, and any IRS or state noticesThe exact list depends on your situation, but having these ready helps make the process smoother.`

`Your filing status is usually based on your marital status on the last day of the year and your household situation. Common filing statuses include: • Single • Married Filing Jointly • Married Filing Separately • Head of Household (for certain unmarried taxpayers who support a qualifying person) • Qualifying Surviving Spouse (in limited situations)Each status has different income thresholds, tax rates, and credit rules. Choosing the correct status can affect your tax bill and eligibility for certain credits.

`You may be able to claim a child or another relative as a dependent if they meet IRS tests for relationship, residency, support, income, and citizenship/residency. In general, you must provide more than half of their support, and they usually cannot file their own return claiming themselves.Claiming a dependent can affect your eligibility for credits such as the Child Tax Credit or Credit for Other Dependents.

`Many married couples file Married Filing Jointly because it often provides better tax brackets and access to more credits. However, in some situations—such as certain student loan or liability concerns - Married Filing Separately may be considered.Filing separately can limit or disqualify some credits and deductions, so it’s important to compare both options based on your income, deductions, and goals.