There is no tax that will reduce any withholding from your work or refundable credits (EIC, etc.) on your return.
Even though you're not required to file, you may still want to in order to claim a refund, if any.
The Gross income requirements for each filing status (If your income is below these, you don't need to file.)
- Single: $10,400 if under age 65. $11,950 if 65 and older.
- Married filing jointly: $20,800 if both under 65. ...
- Married filing separately -- $4,050 at any age.
- Qualifying widow(er) with a dependent child: $16,750 if under 65. ...
- Head of household: $13,400 if under 65.
The IRS increases the standard deduction amount for taxpayers who are 65 or older by the end of the tax year. If your 65th birthday falls on January 1, you can take the larger standard deduction for the prior tax year since the IRS treats you as being 65 on December 31
When other taxpayers, such as your parents, are eligible to claim you as a dependent on their own tax return, you still may need to file your own return — but you can't claim a personal exemption. You will need to file a return if your earned income is greater than $4,050. However, if the total of your unearned income is more than $1,000, you need to file a return even if it is not required by your earned income. Unearned income covers all other earnings, such as taxable interest, dividends, and capital gains that aren't the result of performing services.
