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Form 1040-EZ Tax Basics
Overview of Form 1040EZ for 2008

By , About.com Guide

Jan 15 2009

Why Use Form 1040-EZ?

Many people qualify to use the 1040-EZ form. It will be easier and less time-consuming for you, and faster for the IRS to process. Form 1040EZ is probably the right tax form for you to fill out if you don't have any kids or dependents, don't own a home or didn't attend school.

However, you might consider using Form 1040A instead. Form 1040A is shorter to fill out than the more complicated Form 1040. Plus, on the 1040A you can take a some of the popular deductions and tax credits.

Quick Links relating to Form 1040EZ

Do you need Form 1040EZ for an earlier tax year? All links are for the PDF format:

Are You Eligible to File the 1040EZ Form?

Here's the details. You can file the 1040EZ, the shortest of all federal tax forms, if you meet these conditions:
  • Your total income is under $100,000
  • Your interest income is under $1,500
  • You have income only from wages, interest, unemployment compensation, and Alaska Permanent Fund dividends
  • You and your spouse are under 65 years old
  • You do not have any adjustments to income
  • You are claiming only the standard deduction
  • You may claim the Earned Income Credit
  • You are not claiming any other tax credits
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