How Do You Prepare Tax Form 1040EZ?
There’s not much about the process of filing taxes that’s easy. But if you meet certain eligibility requirements, you can file the simplest tax form, the 1040EZ. Follow these steps to ease the pain of tax time as you prepare Form 1040EZ. Determine whether you’re eligible to file Form 1040EZ. Your annual income must be at least $8,450 if you’re single, or $16,900 if married filing jointly. You can only file Form 1040EZ if you do not claim any dependents or adjustments, and the only credits you claim are the telephone excise tax or the earned income credit. Fill in your Social Security number in the top right corner of the form. At the IRS site, click the link for e-file, then choose “Tax Professional,” “Personal Computer” or “Free File” as your filing method if you’re doing it electronically. Purchase tax software from any retailer if you’re filing online. Save your mailing address label until you’ve completed the paper form; the tax software will ask you questions such as your address.
