12 reasons to file tax return. Even if you don’t think you have to file a tax return, the IRS may think you do and file what is known as a Substitute for Return showing you owe tax. Its always best to file. These twelve situations show when you should file. Federal income tax was withheld, and no tax is due. Th only way to get the money back as a refund is to file a form 1040. Yo made estimated tax payments for the year or had any of your over payment from last year’s tax filing applied to this year’s estimated tax. The only way to get any of this excess money back is to file a from 1040.

12 reasons to file tax return.  You qualify for the Earned Income Tax Credit. This tax break for lower and middle income workers is, as the name says, a credit, which means it reduces any tax you owe dollar for dollar. The only way to apply for this is to file a 1040 tax form. If you qualify for the refundable portion of the Tax Cuts and Jobs Act‘s new child tax credit. Like the Earned Income Tax Credit, this additional tax credit means you could get money back, but you have to file to find out. You qualify for the Affordable Care Act’s premium tax credit. To claim this tax break, you must file your tax return.

If you qualify for the American opportunity tax credit. This educational tax break would give you a credit of up to $2500 and portion of it–up to $1000–is refundable to some qualifying filers. If you must file a state return. Most states collect income tax and use their residents federal tax filings as the basis for the state returns. But your state may have some differences with federal laws when it comes to filing requirements. If you don’t know the Tax Codes you should contact a Tax Resolution firm to help you understand your obligations in filing taxes.