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Why You Might Want to File an Income Tax Return

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You have to file an income tax return if your income exceeds a certain amount.
The required amount depends upon things like your filing status, your age, and how you earn your income.
Even if you are in the rare minority of citizens who are not required to file a tax return, you might want to file anyway, if certain circumstances pertain to you.
Such as: If you had federal taxes withheld from your pay or you made estimated tax payments, you may be eligible for a refund.
You cannot get a refund if you do not file an income tax return.
If you have earned income from employment, you may be eligible for the Making Work Pay Tax Credit.
You need to file an income tax return in order to benefit from this credit.
You may be eligible for the Government Retiree Tax Credit if you received a government pension or annuity.
You cannot collect this credit if you do not file a tax return.
You may qualify for the Earned Income Tax Credit if you worked but did not earn much money.
The EITC is a refundable credit, which means that you could get money back simply by filing for the credit, but you need to claim the credit on a tax return.
You may qualify for the Additional Child Tax Credit, if you have a qualifying child.
You may qualify for the First Time Home-buyer Tax Credit if you bought a home anytime in 2009 or on or before April 20, 2010.
The maximum credit you could receive is $8000, but you must file an income tax return to claim the First Time Home Buyer Tax Credit.
Certain persons receiving Trade Adjustment Assistance, Reemployment Trade Adjustment Assistance, or a pension from the Pension Benefit Guaranty Corporation may be eligible to have 80% of their monthly health insurance premiums paid through the Health Coverage Tax Credit, when filing their 2009 return.
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