Archive for the '1040 form Assistance' Category

How to get Faster and Free IRS Tax forms?

June 29th, 2011 -- Posted in 1040 form Assistance, 1040 tax forms | 1 Comment »

Filing IRS tax forms is considered a difficult task for most of the people. Taxes are collected by IRS from January to April and for this the tax payers need to fill out the 1040 tax forms. They show their deductions, income and credits through these forms. There is a need to be careful while filling out these forms as several exemptions and deductions need to be considered. If you are unable to pay tax, there is an option of paying in installments according to your income and it saves your from several penalties and interest payments. The tax filing status depends upon the marital status and the family income of the individual.

There are five options stating whether the individual is single, married but filing form separately, married and filing jointly, head of the family and filing by a widow(er) with children. This particular status affects the amount of deductions. The status of the individual will be single if he/she is not married or divorced. Joint return can be filed in case you are married. If the partner is dead and the spouse has not remarried then a joint return in the name of the dead spouse can be filed in joint return. For house hold option, the person should not marry again and have paid almost 50% cost of the home. There are some other conditions for the widower which should be met if you have children dependent on you.

The online filing of IRS tax forms has made it easier for many to file and submit these forms easily. It is a good way of filing the forms in a hassle free and timely manner. The returns are filed in an electronic way. This method saves a lot of time and now there is no need to worry about the deadlines of traditional method. After submitting, take prints so that you may have the proof as well.

The professional fees of filing the IRS tax forms can also be avoided with these online submissions. There is no chance of error in these systems and guides the users so that forms are submitted in a correct manner.

What are the Kinds of 1040 forms?

December 24th, 2008 -- Posted in 1040 form Assistance | No Comments »

There are actually three types of Form 1040s that you can use during the yearly tax-filing season: Form 1040, Form 1040A, or Form 1040EZ. All these can be used to file individual income tax returns. The difference lies in how simple or complex they are in terms of details needed.

Form 1040 is filed by individual taxpayers to report their income tax liability. Using this form, a person can claim many credits and deductions. Individuals who use this often have many income sources too, aside from the wages. This form often comes with a lot of attachments to strengthen the claims.

Form 1040A is referred to as the short form because it is shorter than the lengthy, two-paged Form 1040.  This form is intended for single people or married couples with eligible kids. There are lesser number of claims and exemptions so this is more straightforward than the 1040. Yes, there is lesser number of attachments, too.

Form 1040EZ is also referred to as the easy form since it is the easiest among all three. It is also called Income Tax Return for Single and Joint Filers with No Dependents. What are usually reported through this form are the wages and other source of income like interests.

You have to choose properly which form is appropriate for your financial situation. The simpler the form you use, the lesser chance of committing any mistakes that can cost you money or delays. However, if you have so many sources of income and you have claims for more deductions and exemptions, you should use the standard Form 1040, which is the most comprehensive of the three, but the most grueling to accomplish.

Tips when Filing for Income Tax Returns

December 24th, 2008 -- Posted in 1040 form Assistance | 1 Comment »

Every year the Internal Revenue State issues Tax Form 1040 for people to file their tax returns.  Here, they are able to report their annual income, avail of privileges such as tax credits and tax deductions, and calculate their tax returns.  There have been changes and improvisations with the Tax Form 1040 which a lot of people surprisingly have little idea of.  This unawareness has caused a lot of honest taxpayers to delay their submission of tax forms, so if you want to avoid this possible scenario, here are some 1040 form help tips that you can look into:
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1.  The IRS is in charge of issuing tax forms to citizens all over the country, so if there are any problems or inquiries regarding changes and updates with the form, you can call their offices and clarify with them.
2.  Technology has made life a lot easier, even filing for income tax return, so if you want to procure a copy of the 1040 tax forms you may do so by visiting the official website of the Internal State Revenue and download a free PDF copy of the Form 1040.
3.  The Tax Form 1040 has been divided into two: the 1040-EZ and the 1040A.  These are two forms that are shorter than the 1040 form and can be accomplished under a shorter period of time, making things easier for a lot of people.  It would be a good idea to read through the instructions and guidelines of each forma and see if you qualify to submit any of the two forms.

Should You File your Taxes electronically or not?

December 23rd, 2008 -- Posted in 1040 form Assistance | No Comments »

Back when there were no computers or Internet yet, people relied on paper and efficient filing to complete the taxation process. These days, with the advent of high-tech computers and the Internet, people are more inclined to use technology for convenience. But, should you opt for filing your tax returns electronically?

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Filing your tax return using the actual forms and mailing them to the Internal Revenue Service (IRS) is easy. It is cheap and convenient, too. It would take the IRS some time to process you tax returns though, because they will have to key in your data to their system first before anything else. Yes, the paper submission will only cost you postage, but it will take some time before you can get your refunds.

If you use the IRS site to e-file your tax returns, you help eliminate the data entry on the side of IRS and that makes things much faster to process. That means you can get your tax refunds earlier than if you submit the paper. Thing is, to do this, you will need a computer, Internet, and that software program to file your tax returns. This could be added cost on your part.

You can choose either paper or technology for filing. On top of that, you will have to choose too, if you will do it yourself or if you will hire somebody to do it for you. It will depend on how much you trust yourself to do the task and if you mind or not, the extra costs.

Tips in Handling Tax Form 1040

December 23rd, 2008 -- Posted in 1040 form Assistance | No Comments »

If you are a citizen earning an annual income, then you are required to submit Tax Form 1040 to the Internal Revenue State and the Department of Revenue of the state to which you permanently reside in.  This tax form enables you to report your annual income, interest income, avail of credits and tax deductions, as well as calculate your annual tax returns.  It is important that you file your tax returns on time to avoid any problems with the IRS, which can be very difficult to mend once you have delayed or violated their rules.  For 1040 form help, here are some tips that may be of use to you:
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1.  Tax Form 1040 has two sub-sections, 1040-EZ and 1040A, which are shorter and won’t have to take up to much time to submit.  You can avail of any of the two forms if you are eligible and have all the requirements needed by the IRS.  You can call the IRS customer service if you have any questions or clarifications regarding these two forms.
2.  If you want to get a copy of the tax form 1040 or any of the two sub-forms, you can do so by visiting the official website of the IRS and download a PDF version of the tax forms to your own computer.  That way, you will have enough time to read through the 1040 Form help instructions and familiarize yourself with the requirements and procedures when filing for the tax forms.
3.  If this is too much of a hassle for you, you can always call the customer service of the IRS and request them to send a copy of the forms to your email account.

When Filing for Form 1040

December 20th, 2008 -- Posted in 1040 form Assistance | No Comments »

Tax forms are very important for every citizen of this country, which is why they have to be filed and submitted every year to the Internal Revenue State and the Department of Revenue according to the state that you belong to or live in permanently.  For calculating tax returns, annual income, and checking if one can avail of deductions and credits, you will have to use Tax Form 1040.  If you are having trouble filing for tax returns and are unaware of the changes implemented, here are 1040 form help tips to look into:

1.  The 1040 tax form is divided into two: 1040-EZ and the 1040A forms.  These two forms simplify the process of filing for tax returns and are eligible for people who earn a certain annual income every year.  Check if you are eligible for any of the two forms and read through the instructions so that you will not get confused in the end.
The IRS provides these tax forms for free, so if you are in need of a copy you can visit their official website and download a digital copy from their databases.
If downloading from their website is too much of a hassle, you can always call the customer service and ask for Tax Form 1040 or any of the sub-forms.  You can request that the forms be sent to your email account and from there you can download them easily to your computer.
Make sure that you read the instructions and changes before answering the tax forms.

Tax Forms 1040 Help

December 19th, 2008 -- Posted in 1040 form Assistance | No Comments »

Everyone has to file their tax returns every year to the IRS and the form that is being used is the Form 1040.  This form is what you use to report your annual income, calculate one’s tax, and to avail of deductions and credits in the overall tax return.  The Internal Revenue State is the department is in charge of the community taxes so it is important to send tax forms on time to avoid any complications and problems with the department in the future.  Unfortunately there are those who still do not know how to answer and submit the 1040 tax form due to changes and improvisations that they are unaware of.  To be able to complete your tax forms on time, here are some 1040 form help tips to look into:
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1.  The IRS provides and issues people with free copies of the tax form 1040 so you can download a PDF copy of the forms off their database anytime you want.  You can download one and read through the 1040 form help instructions in order to avoid any problems in filling it up in the future when time calls for it.
2.  Make sure that you are aware of the changes made on the tax forms.  Try to get the 2008 version of the tax forms so that you will have an idea of what privileges or limitations are implemented for this year’s tax returns.
3.  Calculate your income in advance to see if you qualify for either of the two tax forms, 1040-EZ and 1040A.

Filing for Form 1040

December 18th, 2008 -- Posted in 1040 form Assistance | 2 Comments »

When filing for your tax return every year, you will be asked to fill up tax form 1040 issued by the Internal Revenue State.  Anyone who is earning an annual income can use this tax form to report their income, claim all kinds of deductions and credits, and lastly calculate one’s taxes.  Once you are able to do this, the form much be submitted to the IRS to avoid any problems and complications in the future.  There have been changes with the form 1040 that many are still trying to adjust, so here are a few 1040 form help tips that may guide you when submitting the tax forms.
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1.  There are two sub-forms, 1040-EZ and 1040A.  The 1040-EZ form is only eligible to persons who earn under US $100,000 total in income and who have an interest income of under $1,500.  This is also eligible only for people who are earning from wages, interest, and unemployment compensation.  For the latter, you can only file and submit this is if your income comes from wages, interest, dividends, capital gain distributions, taxable grants, scholarships, etc.
2.  In acquiring these forms, you can download the PDF file from the official website of the Internal Revenue State for free.  Do not listen to scammers who will tell you that the tax forms mentioned have a fee.
3.  If downloading and using PDF files is too much of a hassle for you, you can always call customer service of the IRS and ask them to send a digital document copy to your email address.

Form 1040 Help Tips

December 17th, 2008 -- Posted in 1040 form Assistance | 4 Comments »

The 1040 tax form is what people use to report their annual income, to calculate their taxes, and in some cases claim deductions and credits that can be availed by the individual.  Every person, whether he is employed or owning a business, must submit his tax forms or he will be reprimanded by the IRS, adding more problems in the future.  Unfortunately some people have difficulties, despite the fact that are honest tax payers, due to lack of knowledge of any updates, improvements, and changes of the Tax Form 1040.  It is therefore necessary to acquire a copy of the tax forms and to analyze it so that answering and submitting the forms would not be so difficult.
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Here are some 1040 form help tips that may guide you and save you time in submitting your tax forms:
1.  Try to calculate your annual income and see if it falls under a certain criteria.  The tax form 1040 has now been separated into two kinds, the 1040-EZ and the 1040A forms, which are for certain groups of people earning a separate income range.  These are rather short as compared to the form 1040 itself, so take the time to read through these forms and see if you qualify for any of them.
2.   As much as possible, be up to date with the new improvements and changes of the tax form every year.  You can always call the IRS for clarifications if you get confused with the requirements and procedures of form 1040.

Form 1040 for Personal Income Tax Returns

December 14th, 2008 -- Posted in 1040 form Assistance | No Comments »

Many people would frown at the thought of accomplishing their taxes for the year. It would be important to note that the taxes one pays change depending on the changes that has happened to his life during the taxable year. Marrying, having a baby, opening a business, making investments, or retiring make a direct impact on how an individual is taxed.

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Some people opt to employ the services of an accountant while others attempt a DIY. Whatever the choice is, it is still best to understand how taxes work and how to file them correctly.

Individuals are required to file their annual income tax returns to the Internal Revenue Service or IRS. The 1040 form is that form that should be filed by April 15 of every year. This form documents the financial income status of the individual for the year in question and ascertains whether there are taxes due or there are tax refunds to wait for.

The 1040 form is considered as the long form because there are shorter versions like the 1040EZ, which is simpler and less comprehensive. The 1040 form is usually composed of two pages where the taxpayer is required to fill out sections called schedules.

Any individual income taxpayer in the United States can use the form 1040 to file his personal income tax returns. Here are the variations:

Form 1040A – or short form, which can be filled up by people with not-so complicated tax situations (no capital gain or loss, not itemized deductions, etc)
Form 1040EZ – or easy form, which is the simplified, six-section US Tax Return form