• June 20, 2016
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Almost every American with a certain amount of salary is required to fill one of the many IRS tax forms to report their income, expenses, and other financial data. Therefore, learning about some of the most commonly used tax forms can help you choose the correct tax form from the ocean of options available and claim the tax deductions, tax credits, and other financial benefits available to you. Let’s take a look

E-filing the Return

Though many people prefer filing returns through paper forms, doing it online is one of the easiest ways to file a complete and an error-free return. Also, E-file helps you get the tax credit and the deduction you are entitled to claim. There are three e-filing options available for individual taxpayers on IRS.gov, and you can let the site’s software choose the correct tax form.

Choosing the Right Tax Form

There are three most common types of tax forms used for filing federal income tax:

Form 1040EZ

The shortest and simplest version of tax form with least filing time. You are qualified, if you:

  • Have no dependents
  • Are younger than 65
  • Earn less than $100,000
  • Have no plans to itemize your deductions

Note: You can’t use Form 1040EZ to claim the Premium Tax Credit. Moreover, you can’t use Tax form 1040EZ if you have already received advance payments of the premium tax credit in preceding year.

Form 1040A

The U.S. Individual tax form 1040 A is more comprehensive than 1040EZ but simpler than 1040 form. You can use this form if you:

  • Earn less than $100,000
  • Don’t have self-employed income
  • Have capital gain distributions
  • Claim certain tax credit
  • Make certain adjustments to your taxable income such as child tax, student loan interest

Note: Though form 1040A lets you make adjustments, it doesn’t let you itemize deductions.

Form 1040

The standard U.S. Individual tax form, also called “the long form”, applies to those who are not eligible for other two tax return forms. Qualifications include:

  • Your taxable income is $100,000 or above
  • You plan to itemize deductions
  • You are self-employed
  • You report income from the sale of a property

A Word of Advice

If you e-file a tax return, there is no need to mail any paper form to the IRS. For e-filing, you can visit IRS.gov and click on the ‘IRS e-file’ to check the available options. In addition, before filing any form, check IRS Free File. If you are not too tech-savvy and prefer a paper form, you can download it from IRS.gov/forms. Lastly, every taxpayer has a set of fundamental rights, also known as the “Taxpayer Bill of Rights”, which they should be aware of when dealing with the IRS. In the case of any doubt regarding the tax form to use, or wish to learn more about your rights, feel free to contact us for a no-obligation consultation.

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What Our Clients Have to Say

Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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