Who Must File a Tax Return
Revised By: Whitney Ibarra
The Henssler Financial Group Position Paper

Three things determine if a taxpayer is required to file a tax return: gross income, filing status and age. Gross income includes all taxable income received in the form of money, property, goods and services. In general, if gross income exceeds the total of your personal exemption and standard deduction, a tax return is required. Self-employed persons with net earnings from self-employment of $400 or more, must file. Other individuals who should file, even if not required to do so are those who will receive a refund.

Filing Requirements for Most Taxpayers

Individuals Who Are:	Are Required to File if Gross Income for 2007 Is:
Single
Younger than 65	$8,750
65 or Older	$10,050
Married Filing Jointly
Both Younger than 65	$17,500
One Spouse 65 or Older	$18,550
Both 65 or Older	$19,600
Not living with spouse at the end of year (or on date spouse died)	$3,400
Married Filing Separately	$3,400
Head of Household
Younger than 65	$11,250
65 or Older	$12,550
Qualifying Widower
Younger than 65	$14,100
65 or Older	$15,150

For more information call The Henssler Financial Group Tax & Accounting Division at 770-428-4025.