When it comes to income tax forms, the IRS certainly succeeds in offering a variety and long list of forms. If you're not sure which forms apply to your return, we have a few pointers to help you finish your taxes in no time!
The 1040EZ is among the shortest tax forms and is the form for taxpayers earning less than $100,000. It can be used by single and joint filers (for married couples), and by those under the age of 65 who are not legally blind and don't have dependents. Additionally, 1040EZ filers must have $1,500 or less in interest income.
A tax return form of moderate length, the 1040A features more filing status options (i.e. widow[er], head of household) than the 1040EZ and goes into more detail for exemptions. If your annual income is less than $100,000, you've received taxable income from capital gains distributions, and/or you claim deductions pertaining to student loan interest or IRA donations, then form 1040A is likely for you.
Though we'd all like to keep all things taxes as short and simple as possible, not everyone can qualify to use the above forms and may have to settle for Form 1040, which can be used by all taxpayers. Although the 1040 income tax form has earned something of an infamous reputation for being involved and difficult to understand, taxpayers earning over $100,000, self-employed and have itemized deductions are among those who need to file Form 1040.
Regardless of your 1040 income tax form, you can count on TaxACT to get you through the process in the blink of an eye. TaxACT tax software solutions include all of these forms at an affordable price!
January 1 — Everyone
Federal Holiday (New Year's Day) - Details
January 12 — Employees who work for tips
If you received $20 or more in tips during December, report them to your employer - Details
January 12 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the first 15 days of December 2014.
January 14 — Regular method taxes
Deposit the tax for the last 16 days of December 2014.
January 15 — Individuals
Make a payment of your estimated tax for 2014 if you did not pay your income tax for the year through withholding (or did not pay in enough tax that way). Use Form 1040-ES - Details
January 15 — Farmers & fishermen
Pay your estimated tax for 2014 using Form 1040-ES - Details
January 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in December 2014
January 15 — Nonpayroll withholding. January 20 — Everyone January 27 — Communications and air transportation taxes under the alternative method. January 29 — Regular method taxes
If the monthly deposit rule applies, deposit the tax for payments in December 2014.
Federal Holiday (Birthday of Martin Luther King, Jr./Inauguration Day) - Details
Deposit the tax included in amounts billed or tickets sold during the last 16 days of December 2014.
Deposit the tax for the first 15 days of January.
January 20 — Everyone
January 27 — Communications and air transportation taxes under the alternative method.
January 29 — Regular method taxes