Legal Question in Tax Law in New York

For the last two years, our accountant has told my husband and I that we do not have to file income taxes because we have no taxable income to report. We have our social security statements, our medical bills and donations and the statement from our retirement anniuty account which we have been withdrawing from the last 5 years. Is the accountant giving us the correct information when saying we do not have to file?

Asked on 4/15/13, 6:21 am

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

I have not seen the annuity information. If it is Form 1099 R you may have to file a return, depending upon how much you withdraw annually. If no taxes are withheld and amount is less than your total for exemptions and standard deduction, he may be correct.

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Answered on 4/16/13, 3:18 pm


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