Hello and welcome to the session. This is Professor Farhad. In this session, we will look at the filing requirements for taxpayers. This topic is covered in an income tax course and it may also be covered on the CPA exam regulation and the enrolled agent exam. Before we start, I would like to remind you, the viewer, that I would like to connect with you. Please connect with me. I am very active on LinkedIn. You can connect with me there to not only access my lectures but also find news about the accounting and CPA industry. If you are a Facebook user, please like my Facebook page. You can also connect with me personally on YouTube, where I host all my lectures. Please subscribe to my YouTube channel to stay up-to-date on all my lectures. I also have a Twitter account, and you can visit my website for more lectures. Now, let's discuss the filing requirements for an individual taxpayer. Generally speaking, in order to file your tax return, your gross income must be higher than your standard deduction. We discussed the standard deduction in a prior recording. The standard deduction is an amount given to you by the IRS, and the specific amount depends on your filing status. Whether you are single, married filing jointly, married filing separately, or the head of a household. Additionally, if you are 65 or older, you are eligible for an additional standard deduction. However, it is important to note that the additional standard deduction for blindness does not apply to this determination. Special rules also apply for dependents and self-employed individuals. If you are a self-employed individual, your net earnings must be $400 or more. Net earnings refers to your profit, which is calculated by subtracting your expenses from your revenues. We will...
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2023-2024 filing requirements Form: What You Should Know
Payment Voucher. Must be filed in person with the Department of Taxation by April 18, 2022. (Payment voucher not required if tax date falls on a Saturday, Sunday, or holiday). DO-123. DO-123 (fill-in). Payment Voucher. Must be filed in person with the Department of Taxation by April 18, 2022. The total of all amounts (Form DPT-2310) for all taxpayers who file, return, and pay on or after April 5, 2024 and have a payment of at least 1380.00 must be deducted from their refunds.
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