The worst nightmare for US taxpayers is figuring out which form to use to file their returns. The taxpayers who are required to file an individual income tax return should make use of Form 1040, for reporting internal revenue service tax or use its other versions such as Form 1040-EZ and Form 1040-A. There are clear differences between these three Forms and IRS 1040 form is considered long and complex to fill compared to the other two....

The Internal Revenue Service has announced that the taxpayers can now amend many IRS 1040 Forms, electronically. The Forms coming under this inclusion are corrections to Form 1040 NR, Forms 1040- SS, and Forms 1040- PR.                This initiative has become much more significant since 2020 when the IRS first launched its ability to file amended returns. This is an important milestone to help the tax community and the taxpayers.   This new...

Tax Day is the day on which the citizens of the United States file their individual income tax returns with the Federal Government. The due date for filing the IRS tax Form 1040 for the individual tax returns is 15th April. For the year 2022, the tax day is postponed to April 18th, as April 15th is a public holiday, followed by the weekend. The tax deadline is April 19th, for those who live in Maine or Massachusetts....

Form 1040 is used by the citizens of the United States to report their income tax with the IRS. This form helps the IRS to calculate the total taxable income of the taxpayer and the number of refunds that the taxpayer has to get from the government. The due date for filing this tax Form is the 15th of April of the tax year. If this date falls on a weekend or a legal holiday, then the...

IRS Form 1040 is used by the taxpayers of the United States to file their annual income tax returns. This tax Form calculates the total taxable income of the taxpayer and determines tax that is to be paid or refunded by the Government. But the tax requirements vary between the different states of the United States and the citizens may be required to pay additional state taxes or file multiple state tax returns, depending on where they...

Form 1040 is an IRS tax Form that can be used by the citizens of the United States to file their federal income tax returns. The Form has sections that the taxpayers have to fill, out to disclose their taxable income for the year. It also collects the personal information of the taxpayer, such as their name, address, social security number, number of dependents, etc. The filer should also report their salary, interest, pensions, capital gains, and...

The Form 1040 from the Internal Revenue Service helps individual taxpayers to file their tax returns on their annual income. This Form comprises a number of segments that require the taxpayers to disclose the taxable income for the year to learn if there are any additional taxes owed by the taxpayer or to learn if they qualify for a tax refund. Form 1040  is used by taxpayers to report their salary, daily wages, capital gains, taxable interest,...

The Amended US individual income tax return Form by the IRS is used by individual taxpayers who wish to correct an error that has been made in their already filed federal tax return Forms. Generally, taxpayers use Form 1040-X to correct mistakes such as errors in the filing status, omissions of credits, errors with the number of dependents, etc. This Form is not used to correct simple errors with calculations in the tax return as IRS does...

Concerning the ongoing coronavirus pandemic, the President of the United States has issued an emergency declaration on March 13th, 2020 with regards to the relief in the tax deadlines of Americans, who have been affected by the pandemic. According to this notice, the taxpayers are offered certain relaxations concerning the Federal tax payments and Federal tax returns under section 7508A of the Internal Revenue Code. Section 7508A renders the secretary of the Treasure to postpone the time...