The least amount of gross income that requires an individual to file taxes for the 2023 tax year is $5. This threshold applies specifically to individuals whose filing status is Married Filing Separately and who are under 65 at the end of the tax year.
Understanding your filing obligation depends on your gross income, filing status, and age. For most taxpayers, the income threshold is significantly higher.
Gross Income Thresholds for Filing Taxes (2023 Tax Year)
The following table outlines the gross income amounts at or above which you generally need to file a tax return if you were under 65 at the end of 2023:
| Filing Status | Gross Income Threshold |
|---|---|
| Single | $13,850 or more |
| Head of Household | $20,800 or more |
| Married Filing Jointly (both spouses under 65) | $27,700 or more |
| Married Filing Jointly (one spouse under 65) | $29,200 or more |
| Married Filing Separately | $5 or more |
Note: These thresholds are for the 2023 tax year. For more detailed information on filing requirements, including specific conditions and exceptions, you can refer to the Internal Revenue Service (IRS) website.
Who Needs to File?
While the $5 threshold for married individuals filing separately is the lowest, it's important to understand the broader context:
- Married Filing Separately: This status often comes with specific rules, and a very low income threshold for filing helps ensure all necessary income and deductions are properly accounted for, especially if one spouse itemizes deductions.
- Other Filing Statuses: For single filers, heads of household, and those married filing jointly, the income thresholds are substantially higher, reflecting standard deduction amounts.
Even if your income is below these thresholds, you might still want to file a tax return to claim refundable tax credits, such as the Earned Income Tax Credit or the Child Tax Credit, which could result in a refund.
