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Filliable Form K Cns 0103 Rev 10 10

Filliable Form K Cns 0103 Rev 10 10

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okay so for this video i wanted to talk about form 1040 filing requirements based on income threshold so the question posed is if my w-2 is only 10 000 in income do i still need to file a tax return and the answer is it depends right so let's get into some of the rules generally i always recommend filing a federal income tax return if you're a u.s individual person right even if you have little to no income and you might not even know any taxes here's why so three big reasons i've got listed here first is the statute of limitations so under the statute of limitations the irs generally has three years from the day you filed a return to basically examine it audit it try to challenge you on the position now what people don't know here is if you never file a return the statute of limitations for that year never starts so if let's say 2020 you decide not to file a return 10 years 15 years could go by and the irs could come back and look at 2020 and say hey you had some income here you shoul

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