If you are not required to file an income tax return, you are still required to file Form 8606.
You pay it in 2013 when you file your income tax return for calendar year 2012.
This is true even if you are due a refund when you file your income tax return.
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Not every person who received income in 2012 has to file a federal income tax return.
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If your gross income is above the threshold for your age and filing status, you should file a federal income tax return.
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If you are due a refund, you must file a federal income tax return in order to get your money.
After the corporation had sold all its assets it would have a pile of cash and the obligation to file a corporate income tax return with a substantial balance due.
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In fact, it hits any other individual with income from Louisiana sources who is required to file a federal individual income tax return.
To claim the benefit of his cost basis in the securities sold and the foreign tax credit, he will have to prepare and file a U.S. income tax return for the year of the sale.
In 1993 he pled guilty to a separate count of failing to file a New York state income tax return -- a misdemeanor.
If you need more time, you can request an additional four month extension by filing federal form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return (downloads as a pdf) by June 15.
If the expatriate does not file a U.S. income tax return for the year of the sale, the IRS will issue a notice of deficiency to him at his last known address for income tax on the gross sale proceeds.
It is possible, then, that you might have to file a state (or local) income tax return even if you are exempt from federal income tax.
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In tax court, Palmer did not deny that he had received the unreported income or that he had failed to file a tax return.
You must file a tax return each year with the IRS if your income is over the requisite level.
Every June, taxpayer are required to file the FBAR (which is a form separate from an income tax return ) with the IRS. The FBAR is necessary because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions.
Most commonly, a federal income tax claim for refund is generally seized when you subsequently file a joint return with a spouse that owes federal income taxes.
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When to amend a return Generally, you should file an amended return if your filing status, number of dependents, total income, tax deductions or tax credits were reported incorrectly or omitted.
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