Your First Tax Return

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

IRS: Check if you need to file a tax return
- https://www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return
  - Related column excerpt:
    - “To find out, go to the IRS webpage ‘Check if you need to file a tax return’ and look for ‘Who must file.’”
TurboTax: “How Much Do You Have to Make to File Taxes?”
- https://turbotax.intuit.com/tax-tips/irs-tax-return/does-everyone-need-to-file-an-income-tax-return/L7pluHkoW#GoTo-2025-Tax-year-filing-threshold-chart
  - Related column excerpt:
    - “You might find that odd in light of a second, much higher dollar amount that refers to income being ‘over the filing requirement’ ($15,750 for a single filer for 2025).”
IRS: About Publication 17, Your Federal Income Tax (For Individuals)
- https://www.irs.gov/forms-pubs/about-publication-17
  - Related column excerpt:
    - The difference has to do with how the money was earned (see the Filing Information and Standard Deduction chapters of IRS Publication 17, “Your Federal Income Tax”).
IRS: Do I need to file a tax return?
- https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return
  - Related column excerpt:
    - “To best understand how these different amounts may apply to you, try out the Interactive Tax Assistant (ITA) tool, which is found on the IRS webpage ‘Do I need to file a tax return?’”
NerdWallet: “Self-Employment Tax: What It Is, How to Calculate in 2025 and 2026”
- https://www.nerdwallet.com/taxes/learn/self-employment-tax
  - Related column excerpt:
    - “Mike does not have W-2 income. His earnings are from “self-employment.” The ITA asks: “In 2024, did you have net earnings from self-employment of at least $400?” Because he earned $500, he does have to file a tax return and he will be required to pay roughly $70 in self-employment taxes (see the NerdWallet article “Self-Employment Tax: What It Is, How to Calculate in 2025 and 2026.”
IRS: Manage taxes for your gig work
- https://www.irs.gov/businesses/small-businesses-self-employed/manage-taxes-for-your-gig-work
  - Related column excerpt:
    - “Mike’s earnings fall under the term “gig work,” which is described at the IRS webpage “Manage taxes for your gig work.”
IRS: Six Reasons Why You Should File Your Taxes Electronically
- https://www.irs.gov/newsroom/six-reasons-why-you-should-file-your-taxes-electronically-youtube-video-text-script#:~:text=One%2C%20it's%20easy.,payment%20using%20IRS%20Direct%20Pay.
  - Related column excerpt:
    - “Think about filing your return electronically to take advantage of the step-by-step process online programs take you through. If you do file electronically, if a tax refund is due, you will get your refund faster (“usually in less than 21 days”).
IRS Free File: Do your taxes for free
- https://www.irs.gov/filing/irs-free-file-do-your-taxes-for-free
  - Related column excerpt:
    - “The IRS Free File program is one option. But you have to be below certain income thresholds (about $84,000) to qualify for a free filing.”
Bank of America Better Money Habits: “6 steps for first-time tax filers”
- https://bettermoneyhabits.bankofamerica.com/en/taxes-income/how-to-file-your-taxes-in-your-20s
  - Related column excerpt:
    - “For additional resources, read the Bank of America Better Money Habits article “6 steps for first-time tax filers” points out that “[f]iling your own taxes is a key milestone”. Indeed.”
TurboTax: “5 Tips for How to File Taxes for the First Time”
- https://turbotax.intuit.com/tax-tips/general/tips-for-how-to-file-taxes-for-the-first-time/L6nNi6uJn
  - Related column excerpt:
    - “Also check out the TurboTax article ‘5 Tips for How to File Taxes for the First Time.’”