Should you file your tax return in 2016 year

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Tax opened the season of accepting tax returns for the year 2015. The Internal Revenue Service (IRS) expects to process almost 150 million individual tax returns in 2016.

In the new tax season, you must report your income for the 2015 year. It is worth noting that if you did not receive payment for the services that you provided in 2015, make a tax payment. their declaration is not necessary (you report this income next year).

The number of income to be included in the tax return includes the following:

• Salaries and wages
• Commission
• fees
• Fringe benefits
• Tip
• Stock options
• Interest
• Dividends
• Shares in distribution in partnership
• Shares obtained in the distribution of capital gains
• Pensions
• Unemployment Benefits
• Gambling winnings
• Earned income received abroad

However, not every person who made a profit in 2015 must file a federal tax return. There are a number of factors that influence whether you need to file, including how much you earned and the source of that income, as well as your status and age. For most people this is quite simple.

Use the chart below. Choose your status, your age and your total income for the year. If your total income is above the threshold for your age and status at the time of filing, then you must file a federal tax return. These rules are relevant if no one else enters you in the federal tax return.