When filing your own taxes you should use the simplest fax form. This will save you time in preparing your returns and the IRS will be able to process your taxes much quicker.
Form 1040EZ is the easiest and shortest tax form. You can use the this only if you fit these criteria’s.
- Your total income is under $100,000
- Your interest income is under $1,500
- You have income only from wages, interest, unemployment compensation, and Alaska Permanent Fund dividends
- You and your spouse are under 65 years old
- Your filing status is single or married filing jointly
- You do not have any adjustments to income
- You are claiming only the standard deductions
- You may claim the Earned Income Credit
- You may claim the Telephone Excise Tax Refund
- You are not claming any other tax credits.
For more information on the 1040EZ tax forms you can also check out-
For more tax related blogs check out.
IRS Help 4 You
Tax Consultant Blogs
Brain's Blog
Ashley's Tax Blog
IRS Minds
Tax Consultant 4 You
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