• Getting Started
• Login
• Security
• Use Agreement
• Self Select Pin
• Electronic Payments
• Earned Income Credit

Services

• Federal Forms
• State Returns
• Extensions
• Pricing

• FAQ's
• Contact

Learning Which Tax Forms to Use is Easy Once You Understand Them

Those who are self employed probably already know that they are going to need to use a version of the Form 1099 to report their income since they are considered independent contractors, but for the rest of us it is not always so easy to decide which of the tax forms best suits our situations. When things get complicated, it is best to look at the basics and start there. You can count on the fact that if you are a fairly average American, one of the 1040 Series of forms is likely going to work for you. There are three major options, ranging from most complex to most simple, and they are: Form 1040, Form 1040A and Form 1040 EZ. Each of these forms has its own strengths and weak points, but getting a basic grasp of what they are designed to do is going to go a very long way in helping you determine which is best for your own needs. Certainly the easiest form to fill out and file is always going to be the Form 1040 EZ, but this is not a form designed for everyone because it only allows you to claim a single deduction, the Standard Deduction, and very few tax credits. If you hope for a big refund then this is not your best bet.

Of the two more complex forms, Form 1040A is considered the simpler of them, which is why it is often referred to as the short form. If you have a few extra things to report such as capital gains or IRA contributions, then this is going to be your best choice. In truth, it will generally work for most Americans who aren't looking to itemize every single expense that they possibly can in order to come up with the largest number of deductions. Since it is straight forward, many people prefer this form, but if you really want to go for the biggest possible refund check you can get your hands on then you should consider Form 1040, the long form. This return takes longer to fill out but that is because you can essentially explain your entire financial situation, in extreme detail, to the IRS. As a result of the details, you can claim many more deductions and tax credits that are going to help you get a much more significant refund. This is a great way to go if you are confident it is worth your time.