Plain Language of Change:
- Due to changes in the law the amount of income you need to earn before you are required to file has changed starting in 2018
- See attached chart but basically it’s $12,000 for single taxpayers, $18,000 for head of household and $24,000 for married filing joint taxpayers
- Tax return preparer due diligence is extended to head of household filing status
Detailed Analysis of Filing Thresholds for 2018
Cordasco & Company PC is a boutique CPA firm specializing in federal and state tax issues. We provide customized tax and accounting services specifically designed to help our clients capitalize on the rapidly changing tax and accounting environments.