Free Federal

Free Federal 1040EZ
Simple Returns
Prepare Free
Print Free
E-file Free
Free Federal Taxes

Free Federal Tax Preparation

Do Your Taxes The EASY Way For FREE. Federal Free Edition today. Start Now
  1. FREE preparation, FREE printing, FREE efiling
    for your simple tax return with HR Block Federal Free Edition.
  2. Easily get the biggest tax refund possible, guaranteed.
  3. Free Audit Support Center and live online help
Free Federal Taxes - Start Now

What's New for 2008 Form 1040EZ?

The Federal 1040EZ form has been around for quite a while and each year the form is available to help people file their taxes it does change somewhat from year to year. The form 1040EZ does have some new directions for 2006 and the following information will be very helpful for those filing their 1040 EZ.

This tax form is specifically for those people who don’t need to file the typical tax return, but do need to file their taxes. The 1040 EZ is a lot shorter and easier to understand. In fact, it is so easy that anyone can fill it out. It is important, however to read the instructions and understand what is required each year. For the year 2006 individuals who file the 1040EZ may request their refund by telephone. Individuals who are eligible to file this form may order the form by phone, on the Internet at IRS.gov, and at several other locations as well.

Individuals who are eligible to file the 1040EZ may file electronically, which is what the IRS encourages people who qualify to file this way to do. The Free File program is available to these individuals so they can file their taxes without having to pay a fee. The Free File program is new for the 2006 tax year and it is believed that there may be as many as 10 million taxpayers who qualify to file this form who are typically required to file their taxes. Actual amounts may be requested by attaching form 8913 or the standard amount may be requested by taxpayers.

These new elements of the 1040EZ for 2006 are important for taxpayers to know so they can file their taxes appropriately and do so correctly. Avoiding mistakes means a quicker refund and a quicker and easier experience when it comes to filing taxes. If you are wondering whether or not you qualify for the 1040EX then go ahead and check out the directions to see if you qualify.

You can quickly read over the instructions and determine if the 1040EZ. If you do qualify then you can fill out the form, file it, and receive your refund if you are to receive one fast and easy.

Free Federal Tax Return forms

According to federal laws governing taxation, any person, receiving an income in one form or the other, need to pay income taxes to the government annually. But, the job of preparing tax returns, the calculations and the many tax forms involved, constitute one of the harrowing experiences being an honest tax payer. To make matters worse, the complexity of calculations increases with the income. That is, more the income, more complex will be associated tax calculations and also the number of tax forms involved. This article focuses on the last of the facts mentioned, the tax forms, especially 1040ez, 1040a, and 1040.

The first step in the run-up to tax return submission is selecting the right form. The basic of the tax forms is the 1040 ? also 1040ez and 1040a ? which has to be appropriately filled by every person filing tax returns in any case. It is meant for all kinds of income, over $100,000 annually, and also for itemizing deductions when not opting for standard deductions. 1040ez, again a basic tax form, on the other hand is meant for people who are single or when married, jointly. The conditions governing the 1040ez Tax Form are, the tax payees must not have any dependents, not blind, age less than 65, and have an annual earned income (taxable) less than $100,000 with an earned interest not more than $1,500, and have non-itemized deductions. Finally, the form 1040a is for those who have

Author Resource:- The main reason for the stress in filling in these tax return forms is the numerous exemptions and deductions that have to be taken into consideration.
Great news that there is TurboTax Software to help You with this process.

Who Can Use Form 1040EZ?

You can use Form 1040EZ if all of the following apply.

  • Your filing status is single or married filing jointly (see below). If you were a nonresident alien at any time in 2008, see Nonresident aliens below.

  • You do not claim any dependents.

  • You do not claim any adjustments to income. Use TeleTax topics 451-453 and 455-458 (see page 30).

  • The only tax credit you can claim is the earned income credit. Use TeleTax topics 601-602, 607-608, and 610 (see page 30).

  • You (and your spouse if filing a joint return) were under age 65 and not blind at the end of 2008. If you were born on January 1, 1943, you are considered to be age 65 at the end of 2008 and cannot use Form 1040EZ.

  • Your taxable income (line 6 of Form 1040EZ) is less than $100,000.

  • You had only wages, salaries, tips, taxable scholarship or fellowship grants, unemployment compensation, or Alaska Permanent Fund dividends, and your taxable interest was not over $1,500.

  • You did not receive any advance earned income credit payments.

  • You do not owe any household employment taxes on wages you paid to a household employee. To find out who owes these taxes, use TeleTax topic 756 (see page 30).

  • You are not a debtor in a chapter 11 bankruptcy case filed after October 16, 2005.

  • You do not owe any alternative minimum tax.

If you do not meet all of the requirements, you must use Form 1040A or 1040. Use TeleTax topic 352 (see page 30) to find out which form to use.

Even if you can use Form 1040EZ, it may benefit you to use Form 1040A or 1040 instead. For example, you can claim the head of household filing status (which usually results in a lower tax than single) only on Form 1040A or 1040. You can claim the retirement savings contributions credit (saver's credit) only on Form 1040A or 1040. Use TeleTax topic 610 (see page 30). Also, you can itemize deductions only on Form 1040. It would benefit you to itemize deductions if they total more than your standard deduction, which is $5,350 for most single people and $10,700 for most married people filing a joint return. Use TeleTax topic 501 (see page 30). But if someone can claim you (or your spouse if married) as a dependent, your standard deduction is the amount entered on line E of the worksheet on page 2 of Form 1040EZ.

Nonresident aliens. If you were a nonresident alien at any time in 2008, your filing status must be married filing jointly to use Form 1040EZ. If your filing status is not married filing jointly, you may have to use Form 1040NR or 1040NR-EZ. Specific rules apply to determine if you were a nonresident or resident alien. See Pub. 519 for details, including the rules for students and scholars who are aliens.

Single

You can use this filing status if any of the following was true on December 31, 2008.

  • You were never married.

  • You were legally separated, according to your state law, under a decree of divorce or separate maintenance.

  • You were widowed before January 1, 2008, and did not remarry in 2009.

Married Filing Jointly

You can use this filing status if any of the following apply.

  • You were married at the end of 2008, even if you did not live with your spouse at the end of 2008.

  • Your spouse died in 2008 and you did not remarry in 2009.

  • You were married at the end of 2008, and your spouse died in 2009 before filing a 2008 return.

For federal tax purposes, a marriage means only a legal union between a man and a woman as husband and wife. A husband and wife filing jointly report their combined income and deduct their combined allowable expenses on one return. A husband and wife can file a joint return even if only one had income or if they did not live together all year. However, both persons must sign the return. Once you file a joint return, you cannot choose to file separate returns for that year after the due date of the return.

Joint and several tax liability. If you file a joint return, both you and your spouse are generally responsible for the tax and any interest or penalties due on the return. This means that if one spouse does not pay the tax due, the other may have to. However, see Innocent spouse relief on page 27.

Chart A—For Most People

IF your filing status is . . . THEN file a return if your gross income* was at least . . .
Single $8,750
Married filing jointly** $17,500
*Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States (even if you can exclude part or all of it).
**If you did not live with your spouse at the end of 2008 (or on the date your spouse died) and your gross income was at least $3,400, you must file a return.

Chart B—For Children and Other Dependents

If your parent (or someone else) can claim you as a dependent, use this chart to see if you must file a return.
In this chart, unearned income includes taxable interest, ordinary dividends, and capital gain distributions. Earned income includes wages, tips, and taxable scholarship and fellowship grants. Gross income is the total of your unearned and earned income.

To find out if your parent (or someone else) can claim you as a dependent, see Pub. 501.
You must file a return if any of the following apply.
  • Your unearned income was over $850.

  • Your earned income was over $5,350.

  • Your gross income was more than the larger of—


  • $850, or

  • Your earned income (up to $5,050) plus $300.



Chart C—Other Situations When You Must File

You must file a return using Form 1040A or 1040 if any of the following apply for 2008.
  • You received any advance earned income credit payments from your employer. These payments are shown in box 9 of your
    Form W-2.

  • You owe tax from the recapture of an education credit (see Form 8863).

  • You claim a credit for excess social security and tier 1 RRTA tax withheld.

  • You claim a credit for the retirement savings contributions credit (saver's credit) (see Form 8880).

You must file a return using Form 1040 if any of the following apply for 2008.
  • You owe any special taxes, such as social security and Medicare tax on tips you did not report to your employer or on wages you received from an employer who did not withhold these taxes.

  • You owe uncollected social security and Medicare or RRTA tax on tips you reported to your employer or on group-term life insurance.

  • You had net earnings from self-employment of at least $400.

  • You had wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes.

  • You owe tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. But if you are filing a return only because you owe this tax, you can file Form 5329 by itself.

Source: irs.gov