By TurboTax Filing taxes might not be at the top of your to-do list, but you should strongly consider it if you earn income—no matter how much or how little. Key Takeaways • Not everyone needs to file a tax return each year as several factors come into play when determining your filing requirements. • Generally, if you earn less than the standard deduction for your applicable filing status, you don’t need to file unless you have special tax circumstances. • Not filing a return when you should can result in penalties and fines from the IRS. • Not filing a return when you need to is worse than f…