The Easiest 2009 Tax Return – Who Can File Form 1040EZ?
When deciding on which 2009 individual income tax return to file there are three basic IRS tax forms that need to be considered. The three basic IRS tax forms are (1) Form 1040EZ, (2) Form1040A or (3) Form1040. This article will focus in on Form 1040 EZ, which is the shortest form and by far the least complex of all the forms. The Form 1040EZ was designed to be very simple, and therefore is designed to exclude many typical adjustments to income. Some of the common items of financial activities that would prevent you from using the Form 1040EZ are: • Sole proprietorships, home-based and small businesses that file a Schedule C. • Capital gain transactions-for example the sale of stock and other property • Alimony received or paid • IRA deductions • Alimony paid • Taxable Social Security benefits. You can use form 1040EZ if you meet the following basic requirements: • Your taxable income is less than $100,000. • Your filing status is single or married filing jointly. • You and your spouse
