The limit for reportable income, specifically the gross income threshold that determines if you need to file a federal income tax return, varies depending on your filing status and age. These thresholds are set by the IRS annually.
For individuals who were under 65 at the end of 2023, the following gross income limits apply for determining whether a tax return is required:
Gross Income Filing Thresholds for Individuals Under 65 (2023)
| Filing Status | Gross Income Limit (2023) |
|---|---|
| Head of Household | $20,800 or more |
| Married Filing Jointly | $27,700 or more (both spouses under 65) |
| $29,200 or more (one spouse under 65) | |
| Married Filing Separately | $5 or more |
| Qualifying Surviving Spouse | $27,700 or more |
Important Considerations for Filing
- Gross Income Defined: Gross income includes all income you receive in the form of money, goods, property, and services that is not exempt from tax.
- Situational Requirements: Even if your gross income falls below these thresholds, you might still be required to file a tax return in certain circumstances. For example, if you had net earnings from self-employment of $400 or more, you generally must file.
- Benefits of Filing: Filing a tax return, even when not required, can be beneficial. It allows you to claim a refund for any income tax withheld from your paychecks or to receive refundable tax credits, such as the Earned Income Tax Credit.
For comprehensive information on tax filing requirements and to determine if you need to file, consult the official IRS guidance on checking if you need to file a tax return.
