Most people are required to file an income tax return. But even if you are not required to file an income tax return, here are six (6) reasons why you still may want to file a federal income tax return:
1. Your income exceeds the threshold. For instance, if you are single, not a dependent, and made more than $10,150 in 2014, you are required to file an income tax return.
2. Premium Tax Credit. If you bought health insurance in 2014 through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit.
3. Paycheck Withholdings. You had money withheld from your paychecks.
4. EITC. You qualify for the Earned Income Tax Credit.
5. Additional Child Tax Credit. You have at least one child that qualifies for the child tax credit.
6. Education Credits. You went to college or other post-secondary education and you may qualify for an education credit.
If you would like to talk to someone about your tax options you can get ahold of our office by calling 816-524-4949 or by visiting our website at www.hoorfarlaw.com.