Internal Revenue Service (IRS) 1040ez tax returns are normally processed by the IRS promptly. These tax forms are easy to fill-out and often used by taxpayers who are under the age of sixty-five years who have made less than $100,000.00 in gross income over the full twelve months of the tax year being filed. When the IRS tax returns are filed online and include information for a direct deposit of refund money, a speedy refund results. Taxpayers with income from interest, wages and unemployment claims, or Alaska Permanent Funds can use the short 1040ez tax returns. Interest income amounts filed on the IRS 1040ez forms must be less than $1,500.00 or the taxpayer does not qualify to use this kind of a tax return for their filing. The desirable Earned Income Tax Credit refundable allowance can be claimed on these shorter tax forms by those who qualify. Students and taxpayers with children are always encouraged to explore the option of filing IRS Form 1040-A instead of 1040ez tax returns. The shorter 1040ez form does not allow for some of the tax credits that are available to use on Form 1040-A, a shortened version of the full-length 1040 form. Students and taxpayers with children can often come out with a higher credit, or a higher refund check with Forms 1040 or 1040-A. Non-resident aliens should not file Form 1040ez tax returns. Instead, there is an Internal Revenue Service income tax preparation form called 1040-NR-EZ that is very similar to the shortened 1040 form being discussed here. Taxpayers who are self employed, independent contractors, and those selling items through online auctions must also file income tax forms that are different than the 1040ez tax returns. The government has a program allowing taxpayers who qualify for an EITC allowance to receive part or all of this money from an employer prior to filing an income tax return for the tax year. Taxpayers who choose to take this Earned Income Tax Credit early through an employer many not file IRS Form 1040ez tax returns and must use IRS Form 1040-A, or Form 1040 for filing instead.
1040ez tax returns
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