Minimum Taxable Income: Filing Requirements
Determining whether you need to file a tax return depends on your filing status, age, and income type. Here’s an overview of IRS filing requirements for the 2024 tax year, specifically geared toward US taxpayers and expats.
Minimum Income Requirements for Filing Taxes
Below are the gross income thresholds that require you to file a federal tax return for income earned in 2024 (returns filed in 2025):
Single
- Under 65: $14,600
- 65 or older: $16,550
Head of Household
- Under 65: $21,900
- 65 or older: $23,850
Married Filing Jointly
- Both spouses under 65: $29,200
- One spouse 65 or older: $30,750
- Both spouses 65 or older: $32,300
Married Filing Separately
- Any age: $5 (This low threshold essentially requires anyone with income in this category to file.)
Qualifying Surviving Spouse (Widow/Widower)
- Under 65: $29,200
- 65 or older: $30,750
These thresholds reflect the standard deduction amounts (updated annually for inflation), plus additional standard deductions for individuals aged 65 and older.
Special Threshold: Self-Employment Income
If you earned income from self-employment (freelancing, contract work, or a personal business), you must file a return if your net earnings were $400 or more in 2024. This threshold remains constant from year to year.
Even if your total income is below the general threshold, earning at least $400 in self-employed income means you must file and pay self-employment taxes (Social Security and Medicare).
US Expats: Important Information for Filing Taxes Abroad
As a US citizen or resident living abroad, your filing obligations remain similar to those of US-based taxpayers. However, you can benefit from exclusions specifically designed for expats.
Foreign Earned Income Exclusion (FEIE)
The FEIE allows qualifying expats to exclude foreign-earned wages or self-employment income from US taxation. The FEIE limit for the 2024 tax year is $126,500 per eligible individual.
For married expats filing jointly, each spouse may claim the FEIE individually, potentially excluding up to a combined total of $253,000 of foreign-earned income.
Foreign Housing Exclusion
Expats can also exclude certain housing costs incurred overseas. For 2024, the maximum general housing exclusion limit is $17,710 (only amounts over 16% of the annual FEIE exclusion amount can be deducted, but to a maximum of 30% of the FEIE amount.) A number of high-cost locations may have higher allowable housing exclusions.
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Filing Requirement and FEIE: A Crucial Distinction
It’s important to understand that the FEIE does not eliminate the need to file a US tax return if your gross income is above the filing threshold for your status. You must report your worldwide income and claim the FEIE by filing Form 2555 along with your return. The FEIE isn’t automatic, you must file to claim it.
Example:
- If you’re single and earned $50,000 abroad, you must file because your income exceeds the $14,600 filing threshold—even though you can exclude the entire amount using the FEIE.
- Conversely, if your foreign-earned income was only $10,000 (below the single threshold), filing wouldn’t be required unless you have other reasons to file, such as claiming credits or refunds.
Automatic Extensions for Expats
US taxpayers living outside the US and Puerto Rico on the regular tax deadline (April 15, 2025, for the 2024 tax year) automatically receive a two-month extension until June 16, 2025. No paperwork is required to get this extension, though any taxes owed are still due on April 15, and interest accumulates from that date.
If you require more time beyond June 15, you can file Form 4868 to extend your filing deadline further, typically to October 15, 2025.
Who Must File Even Below Thresholds?
Sometimes, you may need to file a return even if your income is below the listed thresholds. This can happen if you owe special taxes like the Alternative Minimum Tax, received distributions from Health Savings Accounts (HSAs), or must reconcile tax credits from the Health Insurance Marketplace.
Additionally, if you had taxes withheld or made estimated payments, filing could result in a refund—even if your income is below the filing threshold.
Staying Compliant and Stress-Free
Knowing your filing requirements can help you remain compliant with IRS rules and avoid unnecessary stress. At Greenback, our experts specialize in expat taxes and can assist you in ensuring your returns are accurate and filed timely.
Have questions about your specific situation or need help determining your filing obligations? Contact us, and one of our Customer Champions will happily address all your concerns.
Who doesn’t love a tax break? Download our easy-to-use excel calculator to get an estimate of how the foreign earned income exclusion can save you money.
