[thawdar]

Hello Ninjas (go-to-consultants) 😀

do you recommend to file tax return with zero income? what are the benefits?

do i just not file the tax return?

any advise would be great!

Thanks

[Missy]

If you happen to be eligible for any refundable credits (highly unlikely with no income) file. Otherwise, no.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

It depends!(A common answer to generally every taxation question = It depends!)

Filing requirements depend on gross income, filing status, age, and whether you are a dependent. Check out Pub 501.

[thawdar]

Thanks mla. I did pay student loans for $100. I feel the amount is very little not to file. Correct?

[Missy]

Well paying student loans does not in itself entitle you to a refundable credit (it can reduce the tax you owe but will not reduce the tax you owe below $0 if it even qualifies.)

So no. Curious what student loan only asks for $100 or how even that was possible without income but its none of my business.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Tncincy]

Sorry there is nothing to file. So you know there is no refund if no income. Interest paid to a student loan is deducted from income, there is no income. No worries, unless you get ssi, unemployment. But still there might not be nothing to file.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Anonymous]

Always file and soon as you can. It is one huge way to reduce your chances of identity theft.

[Author]

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