Filing Tax ReturnsFiling Tax Returnsfor 2008for 2008

Filing StatusFiling Status

Single Person (not married)Single Person (not married) Married person filing a joint return (even Married person filing a joint return (even

though only one spouse may have earned though only one spouse may have earned incomeincome

Married person filing separate returnMarried person filing separate return ““Head of Household” (you may qualify as head Head of Household” (you may qualify as head

of household whether you are married or single of household whether you are married or single if you meet certain condition in providing a if you meet certain condition in providing a home for people dependent on you.home for people dependent on you.

Qualifying widow(er) with a dependent childQualifying widow(er) with a dependent child

ExemptionsExemptions

Exemption – an amount you may subtract Exemption – an amount you may subtract from your income for each person who from your income for each person who depends on your income to live.depends on your income to live.

Each exemption reduces your total tax.Each exemption reduces your total tax.

Exemptions allowed forExemptions allowed for YourselfYourself Spouse (if married)Spouse (if married) DependentsDependents

DependentDependentThe term dependent meansThe term dependent means1.1. A qualifying child, orA qualifying child, or2.2. A qualifying relativeA qualifying relative

Must meet tests for Must meet tests for qualifying childqualifying child Dependent taxpayer test Dependent taxpayer test – if you could – if you could

be claimed as a dependent by another person, be claimed as a dependent by another person, you cannot claim anyone else as a dependent.you cannot claim anyone else as a dependent.

Joint return Test Joint return Test – You generally cannot – You generally cannot claim a married person as a dependent if he or claim a married person as a dependent if he or she files a joint returnshe files a joint return

Citizen or resident test Citizen or resident test – You cannot – You cannot claim a person who is not a U.S. Citizen, U.S. claim a person who is not a U.S. Citizen, U.S. resident alien, U.S. national or a resident of resident alien, U.S. national or a resident of Canada or Mexico, for some part of the year. Canada or Mexico, for some part of the year. (Exception: adopted child)(Exception: adopted child)

Dependent (Cont.)Dependent (Cont.) Relationship Test - To meet this test Relationship Test - To meet this test

the child must be:the child must be: Your son, daughter, stepchild, eligible foster Your son, daughter, stepchild, eligible foster

child, adopted child, or a descendant of any of child, adopted child, or a descendant of any of themthem

Age TestAge Test Under the age of 19 at the end of the yearUnder the age of 19 at the end of the year A full-time student under age 24 at the end of the A full-time student under age 24 at the end of the

year, oryear, or Permanently and totally disabled at any time Permanently and totally disabled at any time

during the year.during the year. Residency TestResidency Test

Have lived with you for more than half of the yearHave lived with you for more than half of the year Meet one of the exemptions listed belowMeet one of the exemptions listed below

Temporary absences – illness, education, business, vacation, or Temporary absences – illness, education, business, vacation, or military servicemilitary service

Death or birth of child – a child who was born or died during the yearDeath or birth of child – a child who was born or died during the year

Support Test Support Test Child must not have provided more than Child must not have provided more than

half of his or her own supporthalf of his or her own support

There are special rules for a child that is There are special rules for a child that is the “qualifying child” of more than one the “qualifying child” of more than one person. Do research or get professional person. Do research or get professional advice if you encounter this situation.advice if you encounter this situation.

Dependent (Cont.)Dependent (Cont.)

Gross IncomeGross Income

Gross Income – all taxable income Gross Income – all taxable income you receiveyou receive WagesWages TipsTips SalariesSalaries InterestInterest DividendsDividends Unemployment compensation, alimonyUnemployment compensation, alimony Worker’s compensation benefits, etcWorker’s compensation benefits, etc

Gross IncomeGross Income- AdjustmentsAdjustments

Adjusted Gross IncomeAdjusted Gross Income

- Standard Deduction or Itemized Standard Deduction or Itemized DeductionsDeductions

- ExemptionsExemptions

Taxable IncomeTaxable Income

Standard Deduction for 2008Standard Deduction for 2008

SingleSingle $5,450$5,450

Head of HouseholdHead of Household $8,000$8,000

Married filing a joint Married filing a joint returnreturn

$10,900$10,900

Qualifying widow(er) Qualifying widow(er) with dependent childwith dependent child

$10,900$10,900

Married filing a Married filing a separate returnseparate return

$5,450$5,450

Who Must File?Who Must File?Filing Requirements for Most TaxpayersFiling Requirements for Most Taxpayers

If your filing status is: Wages at If your filing status is: Wages at least:least:

SingleSingle $ 8,950$ 8,950

Married filing jointMarried filing joint $17,900$17,900

Married filing separatelyMarried filing separately $ $ 3,5003,500

Head of householdHead of household $11,500$11,500

Qualifying widow(er)Qualifying widow(er) $14,400$14,400

with dependent childwith dependent child

When to File?When to File?

April 15

Post marked by midnight!

If April 15 is on a Saturday or Sunday,

Tax Return is due following Monday.

How do I File?How do I File?

e-file (free if adjusted gross income is less than $56,000) See www.irs.gov for details.

Use a computer

Use a volunteer (VITA Program)

Use a tax professional

Mail Return

The The End!End!