Using tax forms

By April 15 (or the first business day after April 15 if it falls on a weekend or federal holiday) each year, you have to file an income tax return that reports the details of what you earned the previous year, your tax liability and what you owe or the refund to which you are entitled. If you are required to file a tax return, you may use one of the forms that the Internal Revenue Service (IRS) provides or file your return electronically using approved tax preparation software.

Which form is for you?

The 1040EZ is the shortest form and easiest to complete. You can use the 1040EZ if you meet all of the following requirements:

• Your taxable income is less than $100,000 and comes only from wages, salaries, tips, unemployment compensation, taxable scholarships or fellowships and up to $1,500 in taxable interest
• You have no dependents
• You’re younger than 65 and not blind at the end of the year
• Your filing status is single or married filing jointly
• You had no advance earned income tax credits (EITC), no adjustments to income, no credits except EITC and owe no household employment taxes
• You have no deductions to itemize

The 1040A is an intermediate form. To use the 1040A, your taxable income must also be less than $100,000, and in addition to the sources listed above for 1040EZ, it can also come from investment income, capital gain distributions and retirement plan income. The other requirements, which you can find in the 1040A Instructions, include:

• You don’t itemize deductions
• You claim only specific adjustments to income
• You owe only certain types of taxes
• You claim only specific credits

The 1040 is the most detailed form. Everyone may use the 1040 form, and about 70% of all taxpayers do. You must use the 1040 if your taxable income is more than $100,000, or if you don’t qualify to use the shorter forms for any reason. In many cases, you must attach supplementary forms that explain certain kinds of income, expenses or credits.

Doublecheck forms

Generally, in early January you receive in the mail the new version of the form you filed the previous year. If the IRS thinks you qualify to use a simpler form, it will send you that one instead. But you’ll want to double check the form’s instructions or IRS Publication 17, Your Income Tax. You must meet all of the requirements for a particular form in order to use it.