How to file a 1040EZ form

Need to file your federal income tax but do not want to pay a professional to do something your could easily do yourself? This article will assist you in filing your own taxes if you qualify to use the 1040EZ form.

Things You'll Need

• Writing utensil
• W-2s and other documentation regarding your annual income
• IRS for 1040EZ

Instructions

1. Get the 1040EZ form from your post office, library or at www.IRS.gov. Also, receive your W-2 from your employer.

2. Complete the label area with all of your current information. Remember to use current information even if you lived somewhere else during the tax year.

3. Line 1 of the 1040EZ will coincide with line 1 of your W2 or the total of all W2s. If you have any taxable interest, probably from a savings account or a interest bearing checking account at your bank, this will be included on line 2. Any unemployment compensation above $2,400 is not taxable so you should include the amount on your statement less $2,400 if you received unemployment compensation during the year. The total of these lines is your adjusted gross income.

4. Line 7 of the 1040 EZ will coincide with box 2 of your W2s. This is the federal tax withheld. Complete the form on page 2 of the 1040EZ, this will tell you if you qualify for the making work pay ax credit. Enter this amount into line 8. If the amount on line 4 is less than $13,440 and you are filing single (or less than $18,440 if filing joint) you may qualify for the earned income credit. Complete the worksheet on page 13 on the 1040EZ instructions packet and enter the number into line 9a. If you received non-taxable combat pay enter this amount in line 9b. You will total lines 7-9 on line 10. These are your tax payments and credits.

5. Refer to the tax table on page 27 of the instructions to find your total tax due based upon your adjusted gross income on line 6. Enter this amount on line 11.

6. If line 11 is the larger of line 11 and line 10 then enter the difference on line 13. This is the amount you owe. If line 10 is larger, enter the difference on line 12. This is your refund. If a refund is due simply enter your banking information below line 12 and mail to the IRS. If you owe the IRS your checking information is not necessary.

7. Refer to page 40 of the instructions to find the correct office to send your completed tax information.

Tips & Warnings

• To pay taxes owed by credit or debit card call 1-888-658-5465 or log on to www.PAY1040.com

• If you cannot pay all at once you can go to www.irs.gov, click on the "I Need To" link and select "Set Up a Payment Plan"

• The deadline for filing is April 15th.

• Pay your taxes on time. If you cannot pay contact the IRS immediately. They will work with you if you are honest and upfront about your situation.