![]() ![]() You aren’t required to pay household employment tax on household employees’ wages On the last day of the tax year, you were under age 65 and you were not blind (this also applies to your spouse if you file jointly) You file your income tax return with a status of single or married filing jointlyĪll of your taxable income comes from wages, salary, tips, interest income amounting to less than $1,500, taxable scholarship and fellowship grants, unemployment compensation or Alaska Permanent Fund dividendsīoxes 5 and 7 of your Form W-2 contain any tips you earned Here’s a checklist the IRS uses to determine whether you qualify to file Form 1040EZ: Learn Now: Best and Worst Ways to Itemize Your Taxes Form 1040EZĪs the name implies, Form 1040EZ is the easiest federal income tax form to complete, but it also has the most conditions and restrictions on its use. This means you can’t write off charitable contributions, mortgage interest, medical expenses or business expenses. The most significant limiting factor with Form 1040A is that you cannot itemize your deductions, so you must take the standard deduction. Another difference is that the 1040EZ form’s $1,500 limit on interest income does not apply to Form 1040A. In addition to wages, salary and tips, for example, your income can include dividends, pensions, annuities, IRAs and capital gains distributions. Other income requirements for Form 1040A differ from 1040EZ in that they allow you to include a broader category of income. You can also claim dependents and take tax credits for child and dependent care, retirement savings, earned income, premium tax and education using Form 1040A.Īs with Form 1040EZ, you can only use Form 1040A if your taxable income is less than $100,000. For example, Form 1040A can be used to file as head of household, which is more advantageous than a filing status of single. Form 1040AĪlthough it’s longer than Form 1040EZ, Form 1040A is shorter than the 1040 tax form, and it allows you to claim certain adjustments not available using Form 1040EZ. To help you determine the simplest federal income tax form you can use to file your taxes, try the IRS online tool provided on the IRS website. If you are self-employed, itemize your deductions, owe household employment tax or have $100,000 or more in taxable income, you must use Form 1040, according to the IRS. Here’s the difference between tax forms 1040, 1040A and 1040EZ: Form 1040Īnyone can use Form 1040, regardless of whether they qualify to use the 1040EZ or 1040A. Related: 31 Tips When Doing Your Own Taxesīefore you settle on any tax form, figure out which one is right for your financial circumstance. Determining whether you owe additional taxesĭetermining whether you are entitled to a tax refund
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