As children move toward adulthood, parents face several milestone decisions such as tax return. In each case, the area of the decision requires a prefer to help children become more independent and accountable. However, there is another milestone that parents might not anticipate, even though it will participate nearly every child’s growing-up experience and (unlike car keys and bank cards) it is lawfully required. It is the processing of the first income tax go back in a child’s name.
Most children have only a dim idea of what income taxes are, let alone the specific guidelines they are required to meet.
When Children Must File
Children can be stated as dependents so long as they meet one of the following categories:
- Under age 19 by the end of the entire year.
- Under get older 24 at the end