Tagged: gross income test

Closeup of IRS signage near an entrance to the IRS building in Washington, D.C. 0

Do I Have to Count That As Income?

Tax season is just around the corner and you might be asking yourself if you need to claim something as income. The IRS defines gross income very broadly as any goods, money, property, or services derived (or received) from any source,[1] including sources outside the United States.[2]  Income includes wages, tips, interest, dividends, gains on the sale of property or...

Picture of Form 1040 pages 1 and 2. 0

What is the Minimum Income to File Taxes?

Not everyone is required to file a federal tax return as the filing requirement depends on your minimum income and other factors.  So who must file an income tax return?  You are required to file a federal income tax return if either: (i) you meet the minimum income amount (called the gross income test), or (ii) you meet one of...