The 2020 income levels at which individuals must file income tax returns:

  • Single Individual: $12,400
  • Single Individual, 65 or older: $14,050
  • Married Individual, separate return: $5
  • Married Couple, joint return: $24,800
  • Married Couple, joint return, one spouse 65 or older: $26,100
  • Married Couple, joint return, both spouses 65 or older: $27,400
  • Head of Household: $18,650
  • Head of Household, 65 or older: $20,300
  • Qualifying widow(er): $24,800
  • Qualifying widow(er), 65 or older: $26,100

You may wish to file your tax return even if you are not required to file. A few reasons for filing include;

  • You may receive a refund.
  • Maybe required for FASFA registration.
  • Maybe required for bank financing.