How to Prepare Tax Schedule 1040V

Tax schedule 1040V is not a required form but it does make it easier when you owe the IRS money. It allows the IRS to process your payment accurately. This tax schedule is completed and sent with your check or money order. It is definitely encouraged but the IRS will not issue you a penalty if you choose not to use it. Follow these instructions to complete tax schedule 1040V.

Difficulty: Easy

Instructions

1. Write in your social security number on line one. If this is a joint return then use this line to enter the first social security that shows on your tax return.

2. Enter the second social security number on line two if you're a filing a joint return. If this is not a joint return then just leave it blank.

3. Input the amount you owe on line three. Enter this in numerical values in dollars and cents. Make sure this total matches the total on your check or money order.

4. Record your name and address in section four. This has to match your tax return exactly. Make sure that your print legibly. Use standard print, not cursive.

5. Detach schedule 1040V on the dotted line. Insert it in an envelope loosely, not stapled, with your payment.

6. Locate the state where you live on page two of the tax schedule. If you prepared your own return then choose the address on the left. If you paid a preparer to do your taxes for you then use the address on the right. Mail your payment and tax schedule 1040V to this address.