Most of us probably think of taxes as something middle-aged men in plaid blazers sit around doing all day. (No? Just me?) Today, though, it’s a lot simpler than that, with online programs like H&R Block that’ll do the hard part for you. With April 15th (the deadline to file and pay any money owed) coming up quickly, first-time filers like you and I may be starting to sweat. But it’s okay! Take a deep breath and relax – here’s what you need to know.
First Things First: Do I need to file?
Depending on how much income you earned this year, you may not even have to. The amount of income required to file changes depending on your age, filing status, and dependency status. Most people filing for the first time will be single, which means you’re required to file if your gross income in 2015 met or exceeded $10,300. However, even if someone claims you as a dependent, you’ll still have to file if you met or exceeded the minimum income requirement.