Do minors pay income taxes?

Answer Minors in the United States do have to pay income taxes if the minor reaches a certain level of income. Child taxpayers must file a return like their adult counterparts. There are some exceptions, ... Read More »

Top Q&A For: Do minors pay income taxes

Do minors have to file taxes?

Minors have to file taxes, depending on their level of income and a variety of circumstances such as where the income is derived from. Physical disabilities and other issues also come into play. Ul... Read More »

Is retirement income exempt from state income taxes?

Every state handles taxation of retirement income differently. Seven states do not tax personal income at all, two only tax income from interest and dividends, and 36 states offer some type of excl... Read More »

What income bracket pays federal income taxes?

All income brackets have people who have federal tax obligations, however, the amount of people who owe any taxes drops precipitously as income levels falls. According to the Tax Policy Center, onl... Read More »

Do I need to file income taxes if all I have is interest income?

Whether you need to file taxes on interest income alone depends on your filing status, age and dependency status. For 2009, a single taxpayer under age 65 with less than $9,350 in taxable income w... Read More »