Understanding the 1040 Form The 1040 form is the standard individual income tax return form used by U.S. taxpayers to report their annual income to the Internal Revenue Service (IRS). It is important to understand whether you need to fill out this form, as it is typically used by taxpayers...
One of the most popular methods for tax filing isonline tax preparation software. Tools like these make it simple to fill out every row of every tax form you’ll need to submit, all while helping you track income, tax credits, and tax deductions throughout the year. There are several pop...
But don't worry! We'll help you understand each of the simple steps to filing small business taxes this year. Step 1: Gather Small Business Tax Forms Gather together all the small business tax forms that relate to your business. You'll need all of these tax documents in order to file...
If you’re due a refund, the IRS will send it to you after it accepts and completely processes your amended return. If you owe tax, send the amount to the IRS along with the 1040-X tax form or pay online. If you owe interest or a penalty, the IRS will bill you. How to file a...
Do you ever feel baffled when determining where your tax money goes? You are not alone. Before we launch into the United States’ taxation history, let us first understand what taxes are and why we need to pay them. If any of this feels overwhelming, do not fret – everything will beco...
The 1099-MISC form is used to report different types of payments. This video will help you more accurately report these payments on your tax return.
When you use a Schedule C with Form 1040, or file Form 1120 for a corporation, you usually need to file your return by the April 15 deadline. If you use Form 1120S, you must file it by the 15th day of the third month following the close of the tax year, which for mos...
Using a freelance tax guide can help you file your 2024 taxes and better understand your tax burden as a contractor. The forms you need for freelance taxes The two tax forms you may already be aware of are theW-2 tax form, which is received through traditional employment, and the1040 for...
If you're due a refund, you won't necessarily get penalized, but you still must file if you have an obligation to do so. » MORE: Other tax deadlines to know 3. Understand how your taxes are determined The government decides how much tax you owe by dividing your taxable income into...
Tax tips and video homepage Browse all tax tips Married filing jointly vs separately Guide to head of household Rules for claiming dependents File taxes with no income About form 1099-NEC Amended tax return Capital gains tax rate File back taxes ...