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What is the filing threshold for 2015?

What is the filing threshold for 2015?

What Are the Minimum Income Requirements to File a 2015 Federal Income Tax Return?

Filing Status Age Minimum W-2 Income Requirement
Single Under 65 $10,300
65 or older $11,850
Head of Household Under 65 $13,250
65 or older $14,800

What were the tax brackets in 2016?

2016 Income Tax Brackets The Federal income tax has 7 brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. The amount of tax you owe depends on your income level and filing status. It’s important to understand that moving into a higher tax bracket does not mean that all of your income will be taxed at a higher rate.

What is the personal exemption for 2015?

The personal exemption for 2015 is $4,000, up from $3,950 in 2014. Phase-outs for personal exemption amounts (sometimes called “PEP”) begins with adjusted gross incomes of $258,250 ($309,900 for married couples filing jointly); they phase out completely at $380,750 ($432,400 for married couples filing jointly.)

Can I still get a refund for 2015?

Claim Refund Instructions:You can no longer claim a 2015 Tax Refund. Prepare, file your 2015 tax return on paper. Taxes Owed Instructions:File your tax return as soon as possible to reduce late filing fees and penalties. Claim Refund Instructions:You can no longer claim a 2014 tax refund.

What is the standard deduction for 2016 for over 65?

($1,250 in 2016)
The standard deduction amount varies by filing type, with married couples filing jointly and heads of households (single filers with dependents) receiving larger benefits than single filers (table 1). Filers who are ages 65 and older or blind also receive an additional standard deduction ($1,250 in 2016).

What are the 2017 tax tables?

Taxpayers for 2017 fall into one of seven brackets, depending on their taxable income: 10%, 15%, 25%, 28%, 33%, 35% or 39.6%….How We Make Money.

Tax rate Single Head of household
10% Up to $18,650 Up to $9,325
15% $18,651 to $75,900 $9,326 to $37,950
25% $75,901 to $153,100 $37,951 to $76,550

What was the personal exemption in 2016?

In 2016, the personal exemption was $4,050. Thus, a married couple with three children received a maximum exemption of $20,250, or $4,050 for each of the five family members. However, the exemptions phase out for wealthier filers.

What was the tax credit in 2015?

The Bipartisan Budget Act of 2015 made the $3,000 refundability thresh-old permanent. As noted earlier, The Tax Cuts and Jobs Act of 2017 doubled the CTC for children under 17 from $1,000 per child to $2,000 per child, effective in 2018. The refundable portion of the cred-it was limited to $1,400 per child.

How many years back can you file for a refund?

3 Years
6 Years for Filing Back Taxes, 3 Years To Claim a Refund You must have filed tax returns for the last six years to be considered in “good standing” with the IRS. And if you want to claim a tax refund for a past year, you’ll need to file within three years.