Quantcast Jointly Tax Forms Explained by the Income Tax Crew

Jointly Tax Forms explained in normal english by the Income Tax Crew!

Tax Form NameITC ExplanationDownload PDF (on IRS.gov)

Form 1040

IRS Says: U.S. Individual Income Tax Return

Okay taxpayers - this is the form that everyone needs. Including YOU. self explanatory to the point of inserting all of your personal information: address, filing status, dependents, ALL forms of Income, Expenses, Credits, and any taxes paid throughout the year. #1 Most Used Form - it draws ALL information from other necessary forms and collaborates the data.

Form 1040-EZ

IRS Says: Income Tax Return for Single and Joint Filers With No Dependents

This form should be used if you meet ALL of the requirements listed below: 1) Your filing status is single or married filing jointly 2) You do not claim any dependents 3) You do not claim any adjustments to income 4) You claim only the Earned Income Credit 5) You (and your spouse if filing a joint return) were under the age of 65 and not blind by the end of 2011 6) Your taxable income is less than 100,000 dollars 7) You had ONLY wages, salaries, tips, taxable scholarship or fellowship grants, unemployment compensation, or Alaska Permanent Fund dividends, and your taxable interest was not over 1,500 dollars 8) If you made tips, they are included on box 5 and 7 on your W2 9) You do not owe any household employment taxes on wages you paid to a household employee. 10) you are not a Debtor in a Chapter 11 bankruptcy case which was filed after Oct. 16, 2005.

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