What is the simplest type of tax return?
The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form.
The simplest IRS form is the Form 1040EZ. The 1040A covers several additional items not addressed by the EZ. And finally, the IRS Form 1040 should be used when itemizing deductions and reporting more complex investments and other income. Here are a few general guidelines on which form to use.
The simplest IRS form is the Form 1040EZ.
Form 1040EZ is no longer used, but Form 1040 and Form 1040-SR are important for taxpayers to be familiar with. Here's a guide to what is on these forms and what has changed from previous tax years.
Form 1040 is used by U.S. taxpayers to file an annual income tax return.
- W-2 income.
- Limited dividend and interest income reported on a 1099-DIV or 1099-INT.
- Student loan or interest deductions.
- *Unemployment income.
- Child tax credits.
- Earned income tax credit.
- IRS standard deduction.
What is the average tax refund for a single person making $100,000? According to an analysis done by Lending Tree, the average tax refund for a person making between $100,000 and $199,999 is $4,436.
Forms 1040A and 1040EZ are just simplified, shorter versions of Form 1040. They are intended for people who have uncomplicated tax returns. The advantages of Form 1040A or 1040EZ is they are easy to fill out and easy to read. You can always use Form 1040, regardless of whether you qualify to use Form 1040A or 1040EZ.
Form 1040EZ Eligibility
Your filing status was single or married filing jointly. You did not claim anyone as your dependent. You (and your spouse, if you're filing jointly) were under age 65 in the relevant tax year, and not blind. Your taxable income was less than $100,000.
| Filing Status | Taxpayer age at the end of 2022 | A taxpayer must file a return if their gross income was at least: |
|---|---|---|
| single | under 65 | $12,950 |
| single | 65 or older | $14,700 |
| head of household | under 65 | $19,400 |
| head of household | 65 or older | $21,150 |
What are the four different IRS forms?
| Form number | Form name |
|---|---|
| Schedule SE (Form 1040) | Self-Employment Tax |
| SS-4 | Application for Employer Identification Number |
| W-2 | Wage and Tax Statement |
| W-2G | Certain Gambling Winnings |
Although you will have to calculate your taxes yourself, the IRS allows you to e-file the forms at no charge—but you must create an online account with the IRS in order to do so.
| IF your filing status is . . . | AND at the end of 2022 you were* . . . | THEN file a return if your gross income** was at least . . . |
|---|---|---|
| Married filing separately | any age | $5 |
| Head of household | under 65 65 or older | $19,400 $21,150 |
| Qualifying widow(er) | under 65 65 or older | $25,900 $27,300 |
A simple tax return is the most basic type of tax return you can file. Each tax filing program defines simple tax returns differently, but they generally include: W-2 income. Limited interest and dividend income. Standard deductions.
A tax return is a form or forms filed with a tax authority that reports income, expenses, and other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes.
If you have wages, file Form 1040, U.S. Individual Income Tax Return. If you're a senior, you can file 1040-SR. If you have a business or side income, file Form 1040 with a Schedule C.
The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form.
If you qualify for tax credits, such as the Earned Income Tax Credit or Additional Child Tax Credit, you can receive a refund even if your tax is $0. To claim the credits, you have to file your 1040 and other tax forms.
The average fee for preparing Form 1040 with Schedule A to itemize personal deductions, and a state income tax return, was a flat fee of $323. The average fee for Form 1040 with the standard deduction, plus a state income tax return, was $220.
- Have worked and earned income under $63,398.
- Have investment income below $11,000 in the tax year 2023.
- Have a valid Social Security number by the due date of your 2023 return (including extensions)
How to get a $10,000 tax refund?
How do I get a 10,000 tax refund? You could end up with a $10,000 tax refund if you've paid significantly more tax payments than you owe at the end of the year.
The Department of Community Services and Development encourages Californians earning under $30,000 a year to file their taxes to claim the California Earned Income Tax Credit (CalEITC), a cash-back tax credit, and receive a larger tax refund.
Form 1040EZ was ultimately scrapped due to the limitations of the form. The IRS opted for the building block approach of allowing taxpayers to more easily add allowances or credits as applicable to their return.
- Your filing status is single or married filing jointly.
- You don't claim any dependents.
- You don't claim any adjustments to income.
- You claim only the earned income credit.
Millions of U.S. taxpayers file a 1040 tax form each year. It's the most commonly used tax form to report income, claim certain credits, and identify how much tax you owe (or will get refunded.)
