Instructions for the 1040EZ

Assemble necessary paperwork before starting.

The internal Revenue Service designed the 1040EZ to make it easy for taxpayers to complete and to save on paperwork. The Internal Revenue Service 1040EZ is a basic tax form for single and married filing jointly taxpayers. If you made $40,000 last year and had no dependents, are under the age of 65, have no adjustments, and have interest and dividends of less than $1500, you can file a 1040EZ form. Other criteria include: not owing real estate taxes, owed no taxes on household help and didn't file for bankruptcy after October 16, 2005.

Things You'll Need

• 1040EZ instruction booklet
• W-2(s)
• 1099(s)
• Form 8888

Instructions

1. Place label from tax package over the name and address section. If you didn't receive a tax package, print information with ink pen or create a label on your computer. Put your social security on the bottom of the label and leave the social security section on the form blank.

2. Decide if you (or your spouse, if filing jointly), want to donate $3 to the Presidential Campaign Fund. If yes, check the appropriate box.

3. Add the total amount of wages, salaries and tips in box 1 of your W-2(s). Enter total on line 1 of the 1040EZ.

4. Add taxable interest from forms 1099-INT, 1099-OID and any interest you received in which you did not get a 1099 form. If total is less than $1,500 dollars, enter on line 2 of the 1040EZ.

5. Subtract any repayment of funds from the total on 1099G. Enter the amount of any unemployment and Alaska Permanent Funds over $2,400 on line 3 of the 1040EZ.

6. Add lines 1, 2 and 3, enter total on line 4 of the 1040EZ. This is your adjusted gross income.

7. Enter $9,350 if single or $18,700 if married filing jointly on line 5 of the 1040EZ. Subtract line 5 from line 4 and enter total on line 6.This is your taxable income.

8. Add the amount of tax paid from box 2 on W-2(s) and box 4 of 1099(s). Enter total on line 7 of 1040EZ. The combined amount of tax should equal 10% of the adjusted gross income. For a taxpayer making $40,000 a year the total amount is approximate $4,000.

9. Enter $400 on line 9 of the 1040EZ if you (and your spouse, If filing jointly) have income of more than $6,451 for single filers, or $12,903 for filing jointly.

10. Enter 0 on line 9 if you (and or spouse filing jointly) have income above $13,440 single, and $18,440 if married filing jointly. Add lines 7, 8, and 9. Put total on line 10.

11. Go to the tax table located in your instruction booklet. Find the income range of your taxable income from line 6 of your 1040EZ. Look under the correct filing, "single or married filing jointly", listed at the top of the column to find your taxes. Enter the tax amount on line 11.

12. Subtract line 10 from line 11. Enter difference on line 12a.This is your refund.
    Direct deposit your check by filing out the routing number (12b), type of account (12c) and account number (12d). Fill out form 8888 to have your refund go to two or more accounts. Check the box that says a form 8888 is attached to your 1040EZ.

13. Subtract line 11 from line 10 if line 10 is larger.The difference is the tax owed. Enter amount you owe on line 13. Send a check or money order for the amount owed with your 1040EZ. Put your Social Security Number on the front of the check or money order.

14. Check the square "yes" or "no", if you want another person to discuss your taxes with the IRS. If yes, fill in the person's name, phone number and personal identification number.

15. Sign and date the 1040EZ. Enter your occupation and daytime phone number.
    If married filing jointly, the spouse needs to sign, date and fill in occupation. Make copies.

16. Attach W-2(s) to front of 1040EZ directly under the name. Attach any other forms to the back of 1040EZ. Mail your completed form to the address shown in the instruction booklet for the area where you live.

Tips & Warnings

• Use P.O. Box only if mail is not delivered to a house.

• Enter Social Security Numbers for married filing jointly the same way each year.

• Bank routing numbers are found in the lower left side of your bank check.The first series of numbers is the routing number and the second series of numbers is your account number.

• The Internal Revenue Service can spot errors with their computers.

References

• "Internal Revenue Service 1040EZ Instructions" 2009
• "Internal Revenue Service Publication 17 "Your incone tax 2009

Resources

• Internal Revenue Service Publication 17
• Internal Revenue Service web site