Federal Tax Filing Requirement Thresholds are used to determine if you file your taxes or not. Filing threshold is based on Gross Income and filing status.

FACT: Even if you don’t have to file, you may qualify for Medicaid. In many states, all adults qualify.

How Do Tax Filing Thresholds Work?

Federal Tax Filing Requirement Thresholds use Gross Income and filing status (e.g., single, married filing jointly, head of household) to determine if an individual has to file taxes or not. Even if you don’t have to file, you can choose to do so anyway.

How Do Filing Thresholds Work with ObamaCare?

Tax Filing Thresholds are used when determining the Individual Shared Responsibility Payment. You don’t owe the fee on amounts below the filing threshold. This is true even if you choose to file. They are also used in other instances when determining what taxes you pay.

FACT: You may also be eligible for other cost assistance programs outside of health care. So consider the advantages of filing taxes, even if you don’t have to.

What is the 2014 Tax Filing Threshold?

2014 Federal Tax Filing Requirement Thresholds

Filing Status Age Must File a Return If Gross Income Exceeds
Single Under 65 $10,150
65 or older $11,700
Head of Household Under 65 $13,050
65 or older $14,600
Married Filing Jointly Under 65 (both spouses) $20,300
65 or older (one spouse) $21,500
65 or older (both spouses) $22,700
Married Filing Separately Any age $3,950
Qualifying Widow(er) with Dependent Children Under 65 $16,350
65 or older $17,550

 

Get the official IRS guidelines for preparing your 2014 tax returns or the quick IRS sheet on calculating payments for the ACA.

If you are calculating the Shared Responsibility Payment, see our guide to the payment.