Financial Planner

Answer: D - Individuals who has $200 or more net earnings from self-employment do not have to file a tax return. There are eight categories of individuals that are required to submit a tax filing even if their gross income is below the required amount 1) Those who has $4oo or more net earnings from self-employment 2) Those who have received tips from which Social Security tax was not withheld 3) Those owing alternative minimum tax 4) Employees of certain religious and other church-controlled organizations 5) Non-resident alien individuals 6) Those who have changed their country of residence or citizenship during the year 7) Those who must pay tax from an IRA or qualified retirement plan 8) Those who must pay tax from recapture of investment credit, low-income housing credit, or federal mortgage subsidy.