FREE 1040EZ - FREE Federal 1040EZ - Federal 1040EZ Forms

With the tax filing deadline close at hand, the IRS offers ten tips for those still working on their tax returns:

1. File Electronically - Consider filing electronically instead of using paper tax forms. If you file electronically and choose direct deposit, you can receive your refund in as few as 10 days.

2. Check the Identification Numbers - When filing a paper return carefully check the identification numbers — usually Social Security numbers — for each person listed. This includes you, your spouse, dependents and persons listed in relation to claims for the Child and Dependent Care Credit or Earned Income Tax Credit. Missing, incorrect or illegible Social Security Numbers can delay or reduce a tax refund.

3. Double-Check Your Figures - If you are filing a paper return, you should double-check that you have correctly figured the refund or balance due.

4. Check the Tax Tables - If you are filing using the Free File Fillable Forms or a paper return you should double-check that you have used the right figure from the tax table.

5. Sign your form - Taxpayers must sign and date their returns. Both spouses must sign a joint return, even if only one had income. Anyone paid to prepare a return must also sign it.

6. Mailing Your Return - Use the coded envelope included with your tax package to mail your return. If you did not receive an envelope, check the section called "Where Do You File?" in the tax instruction booklet.

7. Mailing a Payment - People sending a payment should make the check out to “United States Treasury” and should enclose it with, but not attach it to the tax return or the Form 1040-V, Payment Voucher, if used. The check should include the taxpayer’s Social Security number, daytime phone number, the tax year and the type of form filed.

8. Electronic Payments - Electronic payment options are convenient, safe and secure methods for paying taxes. You can authorize an electronic funds withdrawal, or use a credit card or a debit card. For more information on electronic payment options, visit IRS.gov.

9. Extension to File - By the April due date, taxpayers should either file a return or request an extension of time to file. Remember, the extension of time to file is not an extension of time to pay.

10. IRS.gov - Forms and publications and helpful information on a variety of tax subjects are available around the clock on the IRS Web site at IRS.gov.


source : www.irs.gov

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If you used a 1040EZ form last year and you received another one in the mail this year because it was what you used last year, you should know that you don’t have to use this form again. If your situation has changed, you may not be able to use this form any longer, especially if you have many different deductions that you will need to input. It’s important to remember that form 1040EZ is for those that have a very straight forward tax situation and generally there is not a place for itemized deductions. You can deduct more general things, but if you want to itemize you should use the 1040A form that will allow you more space for the itemized deductions.

You can still use the 1040 EZ if you do not claim any dependents and if you do not claim a deduction for educator expenses, the student loan interest deduction, or the tuition feeds and deductions. You also cannot claim the education credit, retirement savings contributions credit, or the health insurance credit. If you will not be deducting these items you can still use the form, though many find it easier to simply use the 1040 forms because they are meant for more complicated tax situations. If you like the EZ form you can still use it as long as you meet all of the criteria such as not owing any household employment taxes on wages paid to a household employee. You also cannot be a nonresident alien, or have received any advance earned income credit payments. In addition you can only have had wages, salaries, tips and other compensation that does not total $1,500.

Using the 1040EZ form really is very simple and straight forward and that is why so many people really like the form. When filling out the form you should do the first draft in pencil and then trace over it in pen so that you are certain you have filled out everything correctly. As simple as the form is compared to other tax forms, you can still make mistakes and it is a good idea to go slowly and do things in pencil so you can make changes if needed, when you correct your work. If you input all of your deductions and you still owe, be sure to make your check out to the “United States Treasury” to complete your taxes for the year.

Natalie Aranda is a freelance writer. You can still use the 1040 EZ if you do not claim any dependents and if you do not claim a deduction for educator expenses, the student loan interest deduction, or the tuition feeds and deductions. Using the form 1040EZ really is very simple and straight forward and that is why so many people really like the form. When filling out the form you should do the first draft in pencil and then trace over it in pen so that you are certain you have filled out everything correctly.

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