This tax filing season, get things off to a good start. Make it easy on yourself and let the software you use to e-file select the right tax form for you. Filing electronically is the easiest way to file a complete and accurate return.
Here are some tips to help you choose the right forms:
You can generally use Form 1040EZ if:
- Your taxable income is below $100,000;
- Your filing status is single or married filing jointly;
- You don’t claim dependents; and
- Your interest income is $1,500 or less.
Note: You can’t use Form 1040EZ to claim the Premium Tax Credit. Nor can you use this form if you received advance payments of the premium tax credit in 2015.
Form 1040A may be best for you if:
- Your taxable income is below $100,000;
- You have capital gain distributions;
- You claim certain tax credits; and
- You claim adjustments to income for IRA contributions and student loan interest.
You must use the Form 1040 if:
- Your taxable income is $100,000 or more;
- You claim itemized deductions;
- You report self-employment income; or
- You report income from sale of a property.
Remember, if you e-file you don’t need any paper forms to mail to the IRS.
For help with any income tax question call one of our offices:
Plymouth 734.454.4100, Allen Park 313.388.7180,
Grayling 989.348.4055, Livonia 734-462-6161,
Madison Heights 248.544.6160, Royal Oak 248.399.7331,
Saginaw 989.782.1985, or St. Clair Shores 313.371.6600