IRS Tax Tips January 28, 2014 Useful Links: Issue Number: IRS Tax Tip 2014-01 IRS.gov Home Inside This Issue 1040 Central Help For Hurricane Victims Who Should File a 2013 Tax Return? Do you need to file a federal tax return this year? Perhaps. The amount News Essentials of your income, filing status, age and other factors determine if you must file. What's Hot Even if you don’t have to file a tax return, there are times when you News Releases should. Here are five good reasons why you should file a return, even if IRS - The Basics you’re not required to do so: IRS Guidance 1. Tax Withheld or Paid. Did your employer withhold federal income tax from your pay? Did you make estimated tax payments? Did you Media Contacts overpay last year and have it applied to this year’s tax? If you answered “yes” to any of these questions, you could be due a refund. But you Facts & Figures have to file a tax return to get it. Problem Alerts 2. Earned Income Tax Credit. Did you work and earn less than $51,567 last year? You could receive EITC as a tax refund if you Around The Nation qualify. Families with qualifying children may be eligible for up to $6,044. Use the EITC Assistant tool on IRS.gov to find out if you e-News Subscriptions qualify. If you do, file a tax return and claim it. 3. Additional Child Tax Credit. Do you have at least one child that The Newsroom Topics qualifies for the Child Tax Credit? If you don’t get the full credit amount, you may qualify for the Additional Child Tax Credit. To claim Tax Tips 2013 it, you need to file Schedule 8812, Child Tax Credit, with your tax return. Radio PSAs 4. American Opportunity Credit. Are you a student or do you Fact Sheets support a student? If so, you may be eligible for this credit. Students in their first four years of higher education may qualify for as much as Armed Forces $2,500. Even those who owe no tax may get up to $1,000 of the credit refunded per eligible student. You must file Form 8863, Education Disaster Relief Credits, with your tax return to claim this credit. Scams / Consumer Alerts 5. Health Coverage Tax Credit. Did you receive Trade Adjustment Assistance, Reemployment Trade Adjustment Assistance, Alternative Tax Shelters Trade Adjustment Assistance or pension benefit payments from the Pension Benefit Guaranty Corporation? If so, you may qualify for the Health Coverage Tax Credit. The HCTC helps make health insurance more affordable for you and your family. This credit pays 72.5 percent IRS Resources of qualified health insurance premiums. Visit IRS.gov for more on this credit. Compliance & Enforcement News Contact My Local Office To sum it all up, check to see if you would benefit from filing a federal tax return. You may qualify for a tax refund even if you don’t have to Filing Options file. And remember, if you do qualify for a refund, you must file a return to claim it. Forms & Pubs The instructions for Forms 1040, 1040A or 1040EZ list income tax Frequently Asked Questions filing requirements. You can also use the Interactive Tax Assistant tool on IRS.gov to see if you need to file. The tool is available 24/7 to News answer many tax questions. Taxpayer Advocate Additional IRS Resources: Where to File Publication 596, Earned Income Credit IRS Social Media Publication 972, Child Tax Credit Publication 970, Tax Benefits for Education Health Coverage Tax Credit IRS YouTube Videos: Do I Have To File a Tax Return? – English | Spanish | ASL Education Tax Credits – English | Spanish | ASL IRS Podcasts: Education Tax Credits – English | Spanish Back to Top Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov.