Because everyone's filing status is different, there are various types of tax forms a person would use to prepare taxes for delivery to the IRS. If you're not sure how to fill out certain tax forms, you can get free tax help by meeting with a social service agency worker to learn how to fill out the tax forms. You can also obtain IRS tax help by talking to a taxation expert in your area who works with a nonprofit organization. If you want to know more about this topic, you can read the tips and guide below.
Your W-2 form is one of the most important forms you'll need to prepare tax returns and it's important to understand what's included in it. When you get your W-2 form you'll get three copies. Part A is what you'll include with the state tax return and Part B of the W-2 form should be sent with your federal tax return and Part C should be kept for your records. The W-2 form also has several boxes and Box 1 will include your taxable wages and benefits. Box 2 includes the amount that was withheld in taxes. Box 4 has the amount that was withheld in Social Security tax.
Here is how you should read your 1099-R form, which you usually receive if you have a retirement account. Box 1 on the form is the amount of money you were given from the retirement account and there is also a section on the form which lets you know the amount of federal income tax that was withheld and there is a section on the form that states the amount of contributions you made to the account.
IRS Tax forms are used to file returns with the Internal Revenue Service. There are a number of forms available for various purposes. The forms required to file the return may differ depending on whether you are an individual, self- employed, business concern or a corporation. If you are filing your returns through a CPA, Accountant or Tax Attorney, they will know which one of the IRS tax forms to use and for what purpose. But if you are filing your returns yourself you should be acquainted with at least some of the IRS tax forms to do the filing correctly.
Document number 1040 is used to file returns for individual income. You could be single or married; if married, you could be filing the returns jointly or separately; you may be above 65years; you may be the head of the family or you could be a widow with a dependent child; you could be a resident American or an American living abroad- Whatever your status is, you will have to use IRS Tax form 1040 if your income is from one source.
Depending on your status you are entitled to certain tax exemptions and the income limit to pay taxes may also vary. If you are eligible for tax deductions, IRS Tax Form 1040A should be used to make itemized deductions.
Things You Should Know About Online IRS Tax Forms