What is it?
Form 1040EZ is an IRS Tax Form used to file federal tax returns with the IRS in the United States. There are several versions of the standard Form 1040, and Form 1040EZ is the shortest of those variants. If you meet certain eligibility requirements, Form 1040EZ can make preparing your tax filing much easier.
Why Do You Need It?
- Start at the top and add the fields as the instructions state.
- Make sure all names and relevant information match legal documented information.
- The instructions provide step by step information and how to fill each field out and
Tips and Instructions for use
Form 1040EZ is a simple, two page document. On the first page, you’ll enter your personal information, followed by income, credits & other tax information, refund payment preference, estimated amount owed to the IRS (if any), and your signature.
The second page of the form provides guidance regarding the Form 1040EZ’s use and filing, and also includes a worksheet to be used to calculate the number to enter on line 5 of the form’s first page.
Once you’ve completed and signed your Form 1040EZ, you can submit it electronically to the IRS using either an approved tax preparation software, the IRS’ Free Tax Form tool, or through an individual who has been licensed to submit electronic tax returns by the IRS. You can also print your return and mail it to the IRS office in your state.
If you’re not sure whether Form 1040EZ is the right form for your tax filing, consider the following:
Do You Meet ALL Of These Criteria?
- Less than $100,000 in taxable income for the year
- Not currently a debtor in a chapter 11 bankruptcy
- Not blind or over age 65
- Not claiming any dependents
- Claiming no federal tax credits, with the exception of the Earned Income Tax Credit and the Federal Telephone Excise Tax Credit
- Don’t Owe taxes for wages paid to a household employee
- Filing as “single” or “married filing jointly”
- Not Claiming any income adjustments
- No taxable interest above $1500
- Did not receive advance Earned Income Tax Credit payments
- Don’t owe Alternative Minimum Tax
Income is only from these sources:
- Taxable Scholarships & Grants
- Alaska Permanent Funds dividends