Thursday, February 11th, 2010
Tax time is a real hassle for most Americans. With the government now clamping down on late payers, fewer mistakes are allowed. Tax filing is a big occasion when forms have to be signed and receipts have to be mailed in.
There are several types of tax forms and almost everyone has to fill up tax form 1040. However, if you fulfill the criteria, then form 1040EZ is a trouble-free procedure. However there are limitations on who can fill this form. One can only fill the 1040 EX tax form if you meet the fowling criteria
1. You are filing either as a single or married couple in combined fashion
2. There are no dependents
3. You have no exemptions asides from your spouse and yourself
4. Your taxable income is less than $50,000
5. Your taxable interest income is $400 or less
6. You have no listed itemized deductions
7. You are not making any adjustments to your income
8. You have no taxes other than the tax recommended by the IRS.
9. You have no tax credits
If you answered yes to all the above, then you can fill form 1040 EZ. The form is simple to fill and has six sections. The 1040 EZ forms are available at the post office or any library but if you have a computer you can download it from the IRS webpage. Remember the form must be signed and dated. Always check your form, make a copy and you must file before April 15th. The form can also be filed electronically for a small fee. Most tax attorneys can help you file this form.
