February 14, 2011

Income Tax Filing Help: Can I File Using Form 1040EZ?

Taxpayers are constantly looking for tax help to determine what tax form to use. The first thing to know is you must use one of three tax forms to file your income tax return: Form 1040EZ, Form 1040A, or Form 1040. Form 1040EZ is the simplest form but you meet specific criteria to use it to file your taxes.

Here is the tax help you need that spells out the criteria you must meet to use the 1040EZ.

You can use Form 1040EZ if all of the following apply.

  1. Your filing status is single or married filing jointly. If you were a nonresident alien at any time in 2010, our filing status must be married filing jointly.
  2. You (and your spouse if married filing a joint return) were under age 65 and not blind at the end of 2010. If you were born on January 1, 1946, you are considered to be age 65 at the end of 2010.
  3. You do not claim any dependents.
  4. Your taxable income is less than $100,000.
  5. Your income is only from wages, salaries, tips, unemployment compensation, Alaska Permanent Fund dividends, taxable scholarship and fellowship grants, and taxable interest of $1,500 or less.
  6. You did not receive any advance earned income credit (EIC) payments.
  7. You do not claim any adjustments to income, such as a deduction for IRA contributions or student loan interest.
  8. You do not claim any credits other than the earned income credit or the making work pay credit.
  9. You do not owe any household employment taxes on wages you paid to a household employee.
  10. You are not claiming the additional standard deduction.

You must meet all of these requirements to use Form 1040EZ. If you do not, you must use Form 1040A or Form 1040.

Figuring tax. On Form 1040EZ, you can use only the tax table to figure your tax. You cannot use Form 1040EZ to report any other tax.

Visit the IRS website’s publication on “Your Federal Income Tax” for more about the 1040EZ or to get income tax filing tax help.

source: irs.gov

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Comments on Income Tax Filing Help: Can I File Using Form 1040EZ? »

February 23, 2011

Efiling Taxes @ 6:44 am

The above points are so informative about file using form 1040EZ. Thanks a lot.

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