Thursday, January 26, 2012

Do I Need to File a Return in 2011

Q. I'm single, over 65, and have a small retirement and social security coming in. Do I need to file a 2011 return?

A. Filing is not required unless your Gross Income is $10,950 or greater. Remember, just because you are required to file a return does not necessarily mean you owe tax. Quite often exemptions and tax credits will reduce your tax liability to zero.

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