Thursday, July 31, 2014

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IRS e-file Helps Choose Which Tax Form to File
2013-02-06

        IRS e-file makes it easy for taxpayers to choose which tax form to file. Tax software automatically chooses the best form for your particular situation. Most people e-file these days, but if you prefer taking pen to paper, the IRS has some tips to help you choose the right form.

        Taxpayers who choose to file a paper tax return should know that the IRS no longer mails paper tax packages. The quickest way to get forms and instructions is by visiting the IRS website at IRS.gov. You can also order forms and have them mailed to you by calling the IRS forms line at 1-800-TAX-FORM (829-3676). You may also pick up tax forms from a local IRS office, and some libraries and post offices carry tax forms.
        Here are some tips that will help paper tax return filers choose the best tax form for their situation. You can generally use the 1040EZ if: Your taxable income is below $100,000; Your filing status is single or married filing jointly; and you are not claiming any dependents.
        You can’t use Form 1040EZ, you may qualify to use the 1040A if: Your taxable income is below $100,000; You have capital gain distributions; You claim certain tax credits; and you claim adjustments to income for IRA contributions and student loan interest.
        If you cannot use the 1040EZ or the 1040A, you’ll probably need to file using the 1040. The reasons you must use the 1040include: Your taxable income is $100,000 or more; You claim itemized deductions; and you are reporting self-employment income.   
        IRS Publication 17, Your Federal Income Tax, provides helpful information about which form is best for you.
        Access to IRS forms and instructions or information about e-filing, including IRS Free File, is available 24 hours a day, seven days a week on IRS.gov. Tax products often appear online well before they are available on paper. You’ll find downloadable tax products on IRS.gov by clicking on the “Forms and Pubs” link on the home page.

 

 

 

 

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