New Rockford Transcript - Official Newspaper of Eddy County since 1883

Savvy Senior: How Much Do You Have to Make to File Income Taxes?

 

February 1, 2021



Dear Savvy Senior,

What are the IRS income tax filing requirements for retirees in 2020? My income dropped way down when I was forced into retirement last March due to COVID-19, so I’m wondering if I need to file a tax return this year.

Unexpected Retiree

Dear Unexpected,

Whether or not you are required to file a federal income tax return this year actually depends on several factors: How muc...



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