How Do You File Federal Income Taxes?
Every person living or working in the United States and every U.S. citizen living anywhere in the world is responsible for determining what federal income taxes he or she owes, if any. Determine whether you have to file a federal income tax return. If your income is low, you may not have to file. But even children have to file if they meet certain income levels or have certain types of income. Find out what filing status you qualify for. In some circumstances you have a choice of filing statuses. Some filing statuses are better than others. Determine how many personal and dependent exemptions you have. Personal exemptions are for yourself and your spouse. Anyone can be your dependent if he or she qualifies. Calculate your income. Many types of money you receive can be taxable income, but some types are not. Calculate your income adjustments. You are allowed to subtract some things from your income and lower your taxes. Calculate your deductions. You can choose between a standard deduct
