Filing Your Taxes
Choosing the Right Tax Form
If you are filing your tax return on paper, you should use the simplest tax form you can. This will make your tax preparation easier, and your return will be processed faster.
- Which Tax Form to Use?
- Form 1040EZ, the shortest tax form
- Form 1040A, most taxpayers qualify for the short form
- Using Form 1040-A may qualify students for the simplified needs test
- Directory of IRS Forms and Instructions
Finding the Best Tax Software
Tax preparation software can help you file your taxes accurately by walking you step by step through the filing process. The best software programs offer tax planning utilities to help you compare different financial scenarios, prepare financial aid documentation, or maximize your retirement savings. Check out these reviews.
Documenting your taxable income is the first step in creating a thorough and accurate tax return. Here's what you need to know about reporting your income to the IRS.
Did you know that you can claim some deductions without itemizing? These deductions are called adjustments to income, and they are claimed right on page one of your Form 1040. Some of the most popular tax breaks are here, along with some little known deductions that taxpayers should consider.
Deductions reduce the amount of income on which you must pay tax. Credits, however, reduce your tax liability dollar for dollar. As a result, tax credits are a powerful way for you to minimize your taxes, or even eliminate your tax bill completely.
- Adoption Credit
- Earned Income Credit
- Child Tax Credit
- Child and Dependent Care Credit
- Retirement Savings Credit
- Credit for the Elderly and Disabled
- American Opportunity Credit
- Lifetime Learning Credit
- Foreign Tax Credit
There are several options for receiving a tax refund. You can have the government mail you a check, or the refund can be sent via direct deposit. You can even have your refund sent to multiple bank accounts.