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New Member
posted Jan 27, 2023 1:17:19 AM

If I have an agi of 0, what does that mean for this years taxes? Will more money be withheld? Meaning will I owe money to the irs

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4 Replies
Expert Alumni
Jan 27, 2023 9:04:24 AM

If your AGI is $0, then you might not have a requirement to file a tax return. 

 

The IRS has a free online tool to help you determine if you have to file a tax return this year. 

 

Here is the link: Do I Need to File a Tax Return?

New Member
Jan 27, 2023 9:06:18 AM

So I’m just supposed to not file my taxes at all? And end up owing money to the irs ???? 

New Member
Jan 27, 2023 9:08:41 AM

Last year I didn’t file which was because I was unemployed. So with that being said I have an agi of 0 for this years tax . I’m still gonna file my taxes!! This year 

Expert Alumni
Jan 27, 2023 10:02:06 AM

Unemployment compensation is taxable, but if your total income is under the minimum income filing level you may not be required to file a tax return. The standard deduction for a single person is $12,950 in 2022, so you may not need to file a federal tax return if your income is under that amount. 

 

As mentioned by @SantinoD, you can use the IRS tool to see if you need to file: Do I need to file?