February 23, 2011
A Primer For The 1040EZ Form
The one page Form 1040EZ was designed to be easy and is basically for tax payers filing as single or married filing jointly and received a salary and have taxable income less than $100,000.
Also to use the Form 1040EZ, you and your spouse must be under age 65 and not blind, you do not claim any dependents and your interest income is not over $1,500.
Its Really Easy and Just Only One Page to Fill in
Take a few minutes to see if you will receive an IRS refund or State refund simply entering your wage and tax information into one of the user friendly forms of any of the collaborating online tax preparation service cloud based companies.
In addition, to meeting the criteria above to use the 1040EZ form, you cannot have received any advance earned income credit payments,,and now you are almost complete.
Also the following will prevent you from being able to qualify to use the 1040EZ form such as having a sole proprietorship, which is basically a small based business,either in your home or in rented facility that is required to file a Schedule Cand you cannot have a capital gain transaction or any IRA deductions.
If you do not meet all of the above 1040EZ form requirements then you must either file Form 1040 or Form 1040A, which are more complex forms.
Form 1040EZ Tips
You may be able to get larger tax deductions, by using form 1040 if your itemized deductions exceed the standard deduction. The standard deduction is $ 5,700 for most individuals and $ 11,400 for most married couples filing a joint return.
As you are gathering your tax information to file the 1040EZ form you should consider that if you purchased a new vehicle after February 16, 2009, you may qualify for an increased standard deduction only if you file Form 1040A or Form 1040. Also, if you suffered personal casualty losses from certain federally declared disasters, you may qualify for increased standard deduction and file Form 1040. Each tax situation is different so if you are preparing your tax return be sure to review the help screens and the IRS Publications.
If your adjusted gross income(AGI) is $58,000 or less, you can file for free from the IRS website, using Free File software or by using any of the nationally well known collaborating companies reviewed in my website.
If you prepare your own tax return , or hire a CPA or tax preparer for a complex tax form, it makes sense to start now.

















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