Which Tax Return Form should you File?
The 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.
One of the reasons taxpayers use professional tax for preparers is to make sure a proper tax return is filed. Over 65% of all tax returns are prepared by professional tax preparers.
For those who want to file their own tax return here are some tips you will find very helpful.
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:
1. Your taxable income is below $100,000;
2. Your filing status is single or married filing jointly;
3. You are not claiming any dependents; and
If you can’t use Form 1040EZ, you may qualify to use the 1040A if:
1. Your taxable income is below $100,000;
2. You have capital gain distributions;
3. You claim certain tax credits; and
4. 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 1040 include:
1. Your taxable income is $100,000 or more;
2. You claim itemized deductions;
3. You are reporting self-employment income; and
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 down loadable tax products on IRS.gov by clicking on the “Forms and Pubs” link on the Home page.
For those of you who have simple tax returns I would suggest you file your own tax return however for those of you who have more complicated returns you should always use a professional tax preparer so you wind up paying the lowest dollar of tax allowed by law.
Tax Return – What Form should you file – Former IRS Agent explains