How To Fill Out The Form 1040EZ

It is necessary to have these items in order to complete this form correctly. The supplies needed are as follows: pen, pencil, paper, calculator, W-2 form, 1099NT form, 1099-OID, Social Security Card, Checkbook, envolope, form 1040EZ, and also the government printed instructions. I will often refer to the numerous lines on the form 1040EZ as per diagram. It is recommended that you do your first do the form in pencil as you follow along. Then, when you are finished you may go back and fill it in with a black or blue ink pen this insures accuracy.

“Should you use the 1040EZ?”(IRS 12) Well there are several stipulations to use this form. Here are eight questions to help you figure out if the 1040EZ is for you.

1. If your filing status is single or married filing jointly.

If you were a Nonresident alien at any time in 2002.

8. If you did not receive and advance earned income credit payments. (IRS 12)

7. If you only had wages, salaries, tips, taxable scholarship or fellowship grants, unemployment compensation, or Alaska Permanent Funds dividends, and your taxable interest was not over one thousand five hundred dollars.

Pink- this is the section for payments and taxes. On line seven it says, “Federal income tax withheld” this refers to box 2 on your W-2 form(s). Please get your W-2 form(s) and locate box 2 write this on the scrap paper. Do this for all of your W-2 forms. If your spouse is filing with you then put their figures on the scrap paper too. Please use your calculator and add all of the numbers together. Then write that sum on line (7) in the pink section. The next line is for earned income credit. You may determine this by referring to the government standards in the IRS Handbook Form 1040EZ on page 17. If you have earned income credit, then enter it on line (8) in the pink section. Line nine is for total payments. Please return to the scrap paper and write down the numbers from lines seven and eight, and add these terms together with the calculator. After getting the total, write it in the space labeled (9). On line ten you have to look back in the green section on line number six. Get this figure and write it down. Pick up the IRS 1040EZ Handbook and turn to page twenty-five. You have to look up the sum you have written down from line six. You will find a series of tables and charts, on page twenty-five in the IRS Handbook, find the correct number and across from it is a correlating tax figure. Write this number in a different place on your scrap paper. Please double check the figure from the table making sure it is correct. If so write it on line (10). This completes the pink section of the form.

Purple- this section is to be filled out if you would like to allow someone else to discuss your taxes with the IRS. If you are giving permission for someone else to talk about your taxes then put an X in the box marked yes. If not then mark the no box with an X. On the next line it asks for the name and telephone number of the person. This completes the purple section.

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