Following these simple steps on how to fill out the easiest tax form…. the 1040EZ.
Start with these 1040EZ steps:
- First, the top section of of the 1040Z is just basic information about who you are, fill it out, typed is best, they are real people entering it. If someone at the IRS cannot read your handwriting, then will not file your taxes.
- Line 1 is asking for the amount on your W-2 box 1. If you had more than one job, you’d add all the Box 1 amounts together to come up with a total number.
- Line 2 is for any interest, if you have no interest, just put a zero on this form.
- Line 3 is if you got unemployment or live in Alaska, if not, Zero again on the easiest box to check on the 1040EZ
- Line 4, add lines 1,2&3
- Line 5 If no one can claim you, and you aren’t married, so put 9750 just like it says.
- Line 6 subtract Line 5 form Line 4. This is the amount of money your are getting taxed on from your earnings. It will be lower than the amounts on your W-2s
- Line 7 is asking for W-2 Box 2. Again, if you had more than one job, you’d add all the Box 2’s. Make sure you enter the number on the 1040EZ that is exactly the same as on the W-2s
- Line 8a is for the EIC which is explained in other article., it starts at age 25
- Line 8b is only for military combat pay.
- Line 9 add Line 7 and 8a. This is the tax you’ve already paid.
- Line 10 You will need to go to the 1040EZ Instruction book (pdf) and go to page 31. There you will see the first page of a very long table where you will use your Line 6 amount to find your tax amount. Then you will write this amount down and write it on Line 10. Make sure that this number is very accurate because it can be easy to accidentally get the wrong amount on a that complicated table.
- Next, check if Line 11 Is line 9 bigger than 10? If yes, subtract 10 from 9 and that’s your refund that the IRS will send you as a check or by direct deposit. If 10 is bigger than 9, the difference is the amount you owe in taxes to the IRS. If you owe, you should file and pay it now, and they will send you a letter saying the amount of interest and penalties they want for late payment. You could always file an extension to get some more time to pay as well but you cannot do it only on the 1040EZ
- Line 11b and c is if you have a refund and want it to go directly into a bank account instead of a check in the mail. Sign the bottom, and double check all your numbers, and your math.
Then you mail it. These instructions are an easy way to file your 1040EZ and get your tax refund quick!