How to Use the Right Tax Forms

The IRS will generally mail you the same IRS tax form you used to file your last year's tax return with, but if your filing status has changed, then those forms may not be beneficial for you. Once you determine which IRS tax form is appropriate for you to complete, you can prepare your own taxes with ease.

Instructions

Difficulty: Easy

1. Look for the IRS income tax form 1040EZ. If you are a single person or married filing jointly, are under the age of 65, have no dependents, have interest income less than $1,500 and your taxable income is under $50,000, then this is the tax form for you.
2. Grab an IRS income tax form 1040A if you are not itemizing deductions and your taxable income is below $50,000. There are other eligibility factors such as if you have child and dependent care expenses, tax credit for child tax and adoption expenses. In addition, you can deduct for money you contribute to an IRA, interest on student loans, educator expenses or higher education tuition and fees and capital gain distributions.
3. Pick up an IRS income tax form 1040 if you have more than $50,000 in taxable income. Also, if you itemize deductions, have self-employment income and have income from property sales, this is the form for you.
4. Complete your taxes. Whether you are filling out a paper form or completing a form online, choosing the correct form will prevent paying more tax than needed or a possible audit.