Benefit From Filing 1040EZ Tax Form.
There are a number of different tax filing options, depending on your foundation and amount of income. The 1040EZ is one of those options, complete available to sure individuals who meet the criteria to use it. It is vital to know if you are one of these individuals and how 1040EZ tax filing can save you both time and money.
The primary qualification for the 1040EZ is that you must make less than $13,660 ($18,740 if married filing jointly. You must also be less than 65 years of age. If you had foreign financial assets, you may have to file new Form 8938 with your return. If you have to file Form 8938, you must use Form 1040. You cannot use Form 1040EZ.
There are many benefits to 1040EZ tax filing. Not only is it much earlier and easier than usual 1040A filing, it can be less costly. The IRS files the 1040EZ forms much quicker because they stick to effortlessly handle rule that allow them to method the forms that a lot sooner. In addition, with online tax preparation, 1040EZ tax filing is most frequently free and involves only answer an only some basic questions in an automated interview.
Procedure for filing 1040EZ begins with the common forms that may be desired. You should collect all of your W-2s, 1099s, 1099-Gs, and 1099-INTs together and ensure they are all final, correct copies. If you are filing offline, have more than one form in case you make any mistakes. If you are filing online, the software will warn you of any mistakes that have been completed. Fill in every line in the forms as requested, usually just copying the information straight from the W-2 or 1099 to your 1040EZ forms. The online forms will ask for precise numbers and give details to you what they mean.
After filing all of the necessary information, you will require to confirm your tax return with your individual information and copies of your W-2s, relevant tax information and 1099s. For online use, you will have to only verify that all of the information you have provided is correct. Once it is perfect, your 1040EZ tax filing is complete. It can take as little as 30 minutes if finished. With the online filing you can save you time over traditional filing.