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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28082
Experience:  Taxes, Immigration, Labor Relations
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I haven't filed taxes yrs. since I so;d my business. I

Customer Question

I haven't filed taxes for 8 yrs. since I so;d my business. I haven't worked so I didn't think I had to file. What do I do? Will they take my home? my husband and I have been Caregivers for my Parents during this time , not being paid.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

If you are not required to file - that is OK not to file.

Generally - filing requirements are based on gross income.

See IRS publication 501 page 2

http://www.irs.gov/pub/irs-pdf/p501.pdf

So in 2014 - if you are married, filing jointly -- under 65 (both spouses) - you filing requirements starts from $20,300.
If you gross income is below that threshold - you are not required to file.

Expert:  Lev replied 1 year ago.

You might need to file under some circumstances...
For instance - if you have self-employment inconme - and want to claim deductions OR if you will owe self-employment taxes - you need to file if your self-employment income is above $400.

Under some circumstances - you might want to file even if you are not required - for isntance - if you want to claim earned income credit.

However - if you did not have any income and - you weer not required to file - and there is nothing to worry

Expert:  Lev replied 1 year ago.
The issue with not having any earned income - you will not earn any social security credits - and might not be able to apply for social security disability benefits,
and when you become eligible for regular social security checks - your benefits might be lower.
Let me know if you need any help.