Why do we need income taxes?

Answer Income taxes allow the government to provide services that average Americans cannot provide for themselves. Personal income taxes have been the largest provider of government revenue since 1950.Gov... Read More »

Top Q&A For: Why do we need income taxes

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 »

How much income do i need to claim taxes?

If you are single, no one can claim you as a dependent, you are under 65 and made less than $9,350, then you do not need to file a federal return. If you are self-employed, any amount over $400 mus... Read More »

At what income do you need to file taxes?

In general, taxpayers who earn more than $5,700 in a tax year are required to file income taxes for that tax year. However, the income tax law does have loopholes and exemptions for those persons o... Read More »

How much do you need to make to file income taxes?

You should file income taxes if you made any money. This is because even though you may not make enough to have to pay at the end of the year, you may be eligible for a refund. However, if you made... Read More »