1040 Tax Forms and Its Types

Filing a tax return on a IRS website is a bit hectic task. When one visits the site, there may be many 1040 forms and it would be little confusing about which form to choose. The brief information given below will help you to find out which 1040 tax form is appropriate.

1040 – Individual Income Tax Return

Usually if the deductions are higher than the standardized deductions and if you want to itemize the deduction, Form 1040 should be filed. For tax payers who are above age of 65 and for people who are blind, some deductions are applicable. 

1040EZ – Income Tax Return For Single and Joint Filers

1040 EZ may be filed if one is doing single or married and are planning to file the tax return independently or jointly. 

1040 NR – U.S Nonresident Income Tax Return 

1040NZ may be filed by nonresidents of the US. They pay tax only on US income source. Even if one has a business in U.S and if there is no income from that, it is required to file 1040NZ form. Rules for immigrants and residents are different. 

1040EZ – NR Income Tax Return For Certain Nonresident Aliens With No Dependants

If one has no dependants and if 1040NR apply, then 1040 EZ – NR may be filed. The taxable income should be $100,000 and the source of income should be salaries, wages, tips, scholarship, fellowship and local income taxes. 

1040 V - Payment Voucher

This is used to send the tax payment to the IRS. However, it is not mandatory to use the form.    

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