Sentences with phrase «filing threshold»

There is an exemption in case the required coverage costs more than 8 % of household income, or, income is below filing threshold.

The annual payment amount is either a percentage of your household income in excess of the return filing threshold or a flat dollar amount, whichever is greater.

Part of your income isn't included when figuring the penalty amount - only the amount above the tax filing threshold is counted.

With little campaign money of his own — he hasn't received or spent enough to meet the minimum federal filing threshold of $ 5,000 — Clyde is counting on volunteers and social media exposure, which he hopes will result in mainstream media exposure, to get his message out.

If you are just slightly over the limit, an increase in any of the above - the - line deductions will lower your adjusted gross income and could bring you below the Free File threshold.

If you're using the first method of calculating your fee, don't count the income below the yearly tax filing threshold ($ 10,150 for individuals and $ 20,300 for couples filing jointly).

«Taxpayers with income below filing threshold»: Also exempt are those who earn too little to be required to file tax returns.

That filing threshold (known as the Federal Poverty Level, currently $ 10,000 for Tax Year 2013 (4)-RRB-, is the amount of deductions everyone gets ($ 3,900 personal exemption + 6,100 standard deduction).

For 2017, the payment is a flat fee of $ 695 or 2.5 % of household income (whichever is greater) less the filing threshold which is $ 10,350 for 2017 for a single individual.

If you are not required to file a tax return because your income is below the filing threshold, you are automatically exempt for that year.

There are, however, a number of exceptions to these filing thresholds, such as with self - employed taxpayers.

The IRS sets a tax filing threshold each year for how much income you can make before you're required to file a tax return.

(Only the amount of income above the tax filing threshold, about $ 10,000 for an individual, is used to calculate the penalty.)

Taxpayers without insurance could have to pay a penalty of $ 695 per uncovered adult and $ 347.50 per uncovered child (to a maximum of $ 2,085) or 2.5 percent of their household income over their filing threshold, whichever is greater.

It should be noted that because you no longer are required to file Form 8891 you will now have to disclose these RRSP and RRIF accounts on Form 8938, Statement of Specified Foreign Financial Assets, if you meet the filing thresholds for the Form 8938.

Nigel, If you file under married filing jointly, you will add both of your incomes together to see if you are over the filing threshold.

Bottom line - if you have 1099 income (or any other income reported to the IRS that brings you over the filing threshold), file a return.

This year, the filing threshold increases to $ 10 million, an amount that will be adjusted for inflation.

This fee can not exceed $ 2,085 per family, or 2.5 percent of the family's income, above the tax - filing threshold — whichever is greater.