Who can file a 1040A or 1040EZ?
Author: Ted Farley
Website: http://www.Tax-FAQ.com
Added: Sun, Jul 23, 2006 17:52:28
Category: Tax Questions
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1040EZ is may be filed only under the following circumstances:
• Your status is single or married
• You have no dependents.
• You and your spouse are under 65 years old and not blind at the years end.
• You are paying all the government wages and taxes and your Tax Interest is not over $1,500.
• Your taxable income is $10,000 or less.
• You are not receiving any income credit payments.
• You do not have any employees at home or you are not paying for a home employee’s tax.
• You are not receiving deductions for student loan interest or tuition.
• You are not receiving tax credits for health coverage or retirement contribution savings.
If you cannot file 1040EZ, you may be able to file 1040A if:
• You are only receiving income from wages, tips, taxable scholarships and fellowships, salaries, interest, ordinary dividends, annuities, IRAs, capital gain distribution, pensions, unemployment compensations and taxable social security.
• You have a less than $100, 000 taxable income.
• You do not itemize deductions.
• The only adjustments to income you claim are student loan interest deductions, tuition fee deductions, IRA deductions, or educator expenses.
keywords: Taxes | Tax | 1040 | Tax Forms About the Author:
Ted Farley answers frequently asked tax questions at PrettyGreatAnswers.com.
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