Hello! I know that you are required to file a tax return when your total income exceeds a certain minimum amount. However, I have heard that in certain special cases, you are required to file even if your total income is below the minimum income threshold amount (particularly if you have self-employment income). Are there any other cases when you'd be required to file regardless of total income amount?
I ask because I was wondering if making an early withdrawal from a Traditional IRA would cause you to be required to file even if you are still below the minimum income threshold with the rest of your income included. I know in some cases it is worth it to file even if you're not required. I did have Federal taxes withheld on the withdrawal. Since you're usually penalized for withdrawing early, I was wondering if the benefit of getting the withholdings refunded would outweigh the penalty. I'd appreciate any feedback on this matter. Thank you!
