Are you filing your very first income tax return this year? If so, you may be feeling a tad nervous about your first experience with the IRS. The good news is that filing your taxes for the first time doesn't have to be frightening. Here are a few pointers to keep in mind as you get started on your tax forms. 

1) Learn Your Specific Tax Filing Requirements

Depending on your age, tax filing status, and the amount of income you received during the year, you may not be required to file a return at all. It's good to know which filing requirements apply before you go through the hassle of filing. For single filers, the income threshold for filing is about $10,000, which means that if you earn more than this, you'll probably be required to submit a return.

Even if you are not legally required to file, it may be beneficial to submit a return, particularly if you are expecting a refund. If you're a teen or college student, you'll likely need to file a return anyway in order to request financial aid for the year. Be sure to consult your parents to find out if they intend to claim you as a dependent before you prepare your own return.

2) Choose a Filing Status

Taxpayers can choose from five different filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow/er. Most taxpayers will only qualify for one of these statuses. In some instances, though, more than one option is available. For example, should a married couple file jointly or separately?

In nearly every situation, it is best for a couple to file a joint tax return. The IRS affords joint filers with higher standard deductions and a larger number of available tax credits. But every tax scenario is different, so it's important to talk with a qualified tax professional about your specific tax situation and find out which filing status is best for you.

3) Gather All of Your Important Tax Documents

You'll also need all of your essential tax forms in order to prepare your return. Collect any Form 1099s, W-2s, and receipts that substantiate your self-employment or itemized deductions. You'll also need your Social Security number and the Social Security number of your spouse (if filing jointly), as well as the Social Security numbers and dates of birth of any dependents you intend to claim.

The process of preparing and filing taxes for the first time may seem overwhelming. However, if you get to know your filing requirements, choose the best filing status, and sort through your documents, you'll make it to April 15 with no sweat at all!