Sunday, October 17, 2010

IRS 1040 From Should You Try This at Home Without a Computer Or Accountant

As they say on TV - "Do not try this at home"

You could easily find a downloadable IRS1040 form maybe even be a fill-in form, which means that the form can be filled out on your computer and printed and filed with out having to use a pen other than to sign the 1040 form. Even though the forms could be found that does not mean that it is a good idea to prepare a tax return by hand. Unless your tax return is quite simple it is probable that are many ways that you could save money by knowing what to deduct and take credit for.

So the thrust of the rest of this article will be to give you a background about the 1040 form as well as the associated forms that may be filed with it such as Schedule A, Schedule B, Schedule C, Schedule D, Schedule E, Schedule F, Schedule EIC and Schedule SE just to name a few. Even if you use the services a CPA or tax preparer it is worth your while to have an idea about such things as deductions, exemptions, and filing status. The time of the year known as tax season can be very hectic for the individual who is preparing your taxes. So the more you know the less likely it is that they will miss out on something that can save you money. After all you really want a tax refund that is as much as possible or at least not to have a tax liability or balance due.

Internal Revenue Service 1040EZ
The one exception to self-service tax filing could possibly be the IRS 1040EZ form. As the name of the form sounds it is meant to be easy. So if you are single as a filing status and just earn wages and get a W-2 form at the end of the year it is possible that you could use this form and instructions to prepare a manual tax return.

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