Am I required to file 2024 Federal or State Tax Return?

Whether you are required to file a federal or state tax return in 2025 depends on your income, filing status, residency, and the tax laws applicable to the 2024 tax year. Here's what to consider:

1. Federal Tax Filing Requirements

You are required to file a federal tax return in 2025 (for the 2024 tax year) if:

U.S. Citizens or Resident Aliens (Green Card Holders)

• Your gross income exceeds the standard deduction for your filing status:
  • Single: $14,000 ($15,700 if 65 or older)
  • Married Filing Jointly: $28,000 ($29,300 if one spouse 65; $30,600 if both 65)
  • Head of Household: $20,800 ($22,500 if 65 or older)
  • Married Filing Separately: $5 (no standard deduction if married filing separately).
• You had self-employment income of $400 or more.
• You received certain types of income (e.g., taxable Social Security benefits, early retirement account withdrawals).
• You are eligible for tax credits like the Earned Income Credit or Child Tax Credit, which may require filing to claim these benefits.

Nonresident Aliens

• You earned U.S.-source income that is subject to U.S. tax, such as:
  • Rental income from U.S. properties.
  • Capital gains from selling U.S. assets.
  • Income subject to FIRPTA withholding.
• You typically file Form 1040-NR.

2. State Tax Filing Requirements

State tax filing rules vary widely depending on the state:

• Residents: Most states require you to file a state tax return if your income exceeds certain thresholds.
• Nonresidents or Part-Year Residents: You may need to file a return if you earned income in the state (e.g., rental income, wages, or business income).

States Without Income Taxes

If you live in a state like Florida, Texas, or Nevada, you typically do not have a state tax filing requirement.

State-Specific Thresholds

Each state has different income thresholds for filing. Consult with our firm for the requirements of any state where you reside or have income sources.