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nikki6t6
New Member

When I look under my tax information for norwex it says my insentives/earnings less than the IRS Minimum Reporting Requirements. Do I need to worry about filing?

 
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AmandaR1
New Member

When I look under my tax information for norwex it says my insentives/earnings less than the IRS Minimum Reporting Requirements. Do I need to worry about filing?

Possibly, you should consider all of your income, in total, to determine if you need to file a return or not. If you meet the income threshold to file, then you need to report all income, regardless of the amount. 

The income thresholds are different based on filing status. A single person can earn up to $10,350 before they are required to file a return, but there are two other requirements that can require filing:

  1. If you had net earnings from a self-employment business of $400 or greater (income minus expenses). This may be the type of income you are referring to for Norwex, so you if had expenses you can deduct them and then consider if this alone triggers your requirement to file. If not (net is below $400), then add in all other income and see if you are still below the threshold amount. 
  2. If you had marketplace insurance or any activity with the healthcare tax credit, because this is reconciled on your return. 

If you have another filing status, you can find the total income thresholds linked below. Let us know if you still have questions! https://ttlc.intuit.com/replies/3302274

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