Basic Income Limits

• You must file a federal income tax return if you are single, under 65, claim yourself as a dependent, and your earned income is over $9,350. That figure is $10,750 if you are over age 65. If you are self-employed, net income over $400 requires filing a federal tax return in 2011. If you are married filing separately and your spouse itemizes deductions, you must file a tax return if you have $5 in income. If you earn $108.28 or more from a church or church-controlled organization, you must file a federal tax return.
  
  

Dependents

• If someone claims you as a dependent and you are under age 65, you can earn $950 in unearned income or $5,700 in earned income without filing a federal income tax return. If you are over age 65 and someone else's dependent, you can have unearned income of $2,350 as a single person or $2,050 as a married person before filing a federal tax return. Earned income for over 65 singles claimed as someone else's dependent is $7,100; married persons claimed by someone else and over 65 can earn $6,800 in 2011.
  
  

Tax Filing Required

• If your employer did not withhold all required Social Security or Medicare taxes required, you must file a tax return. If you owe additional tax on an individual retirement account, an Archer MSA or a Coverdell ESA, you must file a federal tax return. If you owe any taxes on a recapture, you must file a tax return. This occurs when the IRS overpays you on a credit and wants its money back. You must file taxes if you owe household employment taxes for someone who works for you.
  
  

File to Get Money Refunded

• If you earned any money, you may have taxes withheld that are refundable. You may also be entitled to a tax credit as well. Tax credits do not always require taxation in excess of the credit amount. Some credits are refundable and you can get money returned from the IRS. You do not get these credits unless you file your federal tax return. Many tax credits exist for tax year 2010, including child tax credit and the additional child tax credit, credit for elderly or disabled, education credits, retirement savings contributions credits, earned income credit and making work pay credit. Take advantage of the potential for a credit and file a federal income tax return even you are not required to do so.