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View Full Version : I am 72 years old do I still have to pay income tax


magyar
Nov 27, 2011, 06:01 AM
72 years old do I still have to pay income tax

cdad
Nov 27, 2011, 06:07 AM
It's a shame but yes if your in the U.S. you can still be liable for taxes if you have an income.

joypulv
Nov 27, 2011, 06:28 AM
You may not owe any tax (such as on Social Security under certain amounts) but you do have to file forever unless you continue to just get SS or are a dependent of someone else.

Fr_Chuck
Nov 27, 2011, 09:00 AM
Of course no one asked what he earned, he may be making 1/2 a million a year as a investment counselor

MukatA
Nov 28, 2011, 04:42 AM
Every U.S. citizen or resident must file tax return if the worldwide income is more than the filing requirement.

AtlantaTaxExpert
Nov 28, 2011, 11:56 AM
Age is NOT a consideration as to whether you pay taxes or not, and, in some cases, not even death is a factor. The deciding factor is whether INCOME is generated.

Point in case: Elvis Presley's estate still pays taxes because the estate still generates income.

And children as young as 2 days old have to file income tax returns and pay taxes if they earn income.