If a person earned less than $5000 in 2014, do they have to pay taxes?


Quick Answer

For the 2014 tax year, the minimum income requirement for federal tax purposes was greater than $5,000 for most individuals. However, a variety of factors go into determining filing requirements, including age, marital status and composition of household. Additionally, each state has different local rules regarding taxation.

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Full Answer

For 2014, individuals earning less than $5,000 may have been required to file a return if they owed Alternative Minimum Tax, received distributions from a Health Savings Account, had self-employed income over $400 or a variety of other criteria. A tax professional can provide personalized guidance regarding taxes owed and forms to be filed.

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