2007 Form 1040EZ Instructions
The 2007 Form 1040EZ is meant to be used by single and joint filers who have taxable annual income of less than $100,000. Taxpayers using this form cannot claim dependents, adjustments to income, or additional tax credits, but they are allowed to claim earned income credit. Taxpayers in this category cannot be legally blind, and they must be under age 65.
Other People Are Reading
Instructions
-
-
1
Enter your name (and your spouse's name if filing jointly) and your address at the top of the form. Enter your Social Security number (and that of your spouse) in the space to the right of the name and address area.
-
2
Calculate your adjusted gross income by completing lines 1 through 3. Enter on line 1 your wages, salaries and tips from box 1 on your W-2. Enter any taxable interest you received on line 2. This amount is included on the 1099-INT or the 1099-OID that the financial institution paying the interest sent to you. Be sure to report all taxable interest even if you don't receive a 1099 form. Enter on line 3 any unemployment compensation or Alaska Permanent Fund dividends you received (see page 10 of the 1040EZ Instructions to determine if these amounts are taxable). Add lines 1, 2 and 3 and enter the total on line 4. This is your adjusted gross income.
-
-
3
Calculate your taxable income by entering the appropriate amount on line 5 and subtracting it from line 4. Unless someone can claim you as a dependent (or your spouse if married), enter $8,750 on line 5 if you're single, or $17,500 if married filing jointly. If someone can claim you or your spouse, check the appropriate box or boxes on line 5, determine the amount to enter by using the worksheet on page 2 of the form, and enter that amount on line 5. Subtract line 5 from line 4 and enter the result on line 6. This is your taxable income. Enter any negative result as 0.
-
4
Enter on line 7 the amount of tax withheld from box 2 on your W-2. If applicable, enter any earned income credit on line 8a and nontaxable combat pay on line 8b (see pages 10 through 16 of the 1040EZ Instructions to determine your eligibility). Add lines 7, 8a and 8b and enter the total on line 9. This represents your total payments.
-
5
Use your taxable income from line 6 to determine your tax from the tables on pages 18 through 26 of the instruction booklet. Enter the amount of tax on line 10.
-
6
Calculate the amount of your refund or the amount you owe. If line 9 is larger than line 10, you are owed a refund of the difference. Enter this amount on line 11a. If line 10 is larger than line 9, the difference is the amount you owe. Enter this amount on line 12.
-
7
Enter on lines 11b, 11c and 11d your direct deposit information if you are owed a refund. You can also wait to receive your refund check in the mail. For any tax that you owe, submit a check or money order, payable to the "United States Treasury." Sign and date the form, and, if applicable, have your spouse do the same. Mail your return to the Internal Revenue Service in the envelope provided, or send it to the address noted on the last page of the instruction booklet.
-
1
References
- Photo Credit tax time image by Tom Oliveira from Fotolia.com
