Question

Stella is 16 years old. She earned $3,500 this year at a local ice cream shop, and another $3,500 in cash babysitting her neighbor’s son. Does she need to file a tax return? Why or why not?

Answer 1

no

Explanation:

because the people that work for you don;t pay you taxes because that wouldn't be fare

Answer 2

No, needs to file a tax return because she has earned less than is required by the law.

What is a tax return?

Tax returns are written reports of earnings, expenses, and other pertinent financial statement data that are submitted to a taxing authority.

Stella does not file a tax return because, in accordance with the government, she is under the age of 65 and the threshold is $12,550. You might have to pay up to $14,250 if you are 65 years old or older.

Hence, the significance of the tax return is aforementioned.

Learn more about on tax return, here:

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