
Tax help! Filing a joint payment 1040EZ tax form in this free video on tax tips.
All Videos In The Series, "How to Complete and File a 1040EZ Tax Form"
"In this example we're looking at the "Payments and tax" section of the Form 1040EZ for a couple filing, as a couple, James B. Jones and Sarah J. Jones. James had on his W-2, $3,810 in tax withheld, and we look at Sarah's W-2 and she had $990 worth of tax withheld. So we add these two amounts together, we get $4,800 that we put on line "7" and there's no Earned Income Credit on this, so that's zero, and we add the two, and it stays at $4,800 on line "9". That's their total tax payments. Now we need to figure out how much tax they owed. We know that their taxable income is $29,820, so we go to page 20 of our tax forms and we look and find $29,000, and $800, $850, we find that bracket, and for a couple filing jointly, married couple, $3,691. So we put that amount on line "10", and since that is less than what they paid of $4,800 when we subtract line "10" from line "9", we get $1,109 which is their refund."
Expert Village: Tom Noah
Video Series: Personal Finance
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