|
Filing An Income Tax Return
By: Gray Rollins
When the month of April rolls around most of America is preparing their income
tax returns. Each year all individuals who made an income are required to report
that income to federal and state governments by filing an income tax return.
Taxpayers must file two separate income tax returns. One income tax return goes
to the federal government and the other goes to the state government that a
particular taxpayer resides in. The majority of taxpaying Americans are able to
fill out a Form 1040A: U.S. Individual Income Tax Return. Individuals that do
not have any children or other qualifying dependents are able to file a federal
1040EZ form. This form is also referred to as the Income Tax Return for Single
and Joint Filers With No Dependents. The 1040EZ is basically a shorter version
of the 1040A form; however, taxpayers must meet certain requirements before
filing a 1040EZ form.
The majority of taxpayers will have the federal income tax forms they need
mailed to their home. The option to have federal income tax forms mailed to a
taxpayer is given on the previous year’s tax forms. Taxpayers who do not wish to
receive federal income tax forms but do need them can get the forms from a
number of sources. Many paper forms are available for pickup at many local post
offices, banks, and libraries. Taxpayers can also visit the website of the
Internal Revenue Service (IRS) which is found at http://www.irs.gov. The
Internal Revenue Service has a collection of federal income tax forms that can
be downloaded and printed. http://www.taxhelpdirectory.com/federalincometax/
When a taxpayer reports their income earned to their state government they will
also have to fill out a state tax return form. Each state has their own income
tax return forms. The form numbers will all be different because they vary from
state to state; however, some forms will have the same heading. It is not
uncommon for a state income tax form to be known as the Resident Income Tax
Return. As with federal income tax returns, the majority of states have a long
income tax return form and a short one. Taxpayers who are able to fill out and
file a short state income tax return are encouraged to do so because it saves
many taxpayers a large amount of tax preparation time. As with most federal
income tax forms, state tax return individuals are likely to have a packet of
state income tax forms mailed directly to their home. It is also possible for
taxpayers to find their state tax forms at their local post office, financial
institution, or library.
In addition to the traditional taxpaying individual, there are others who have
to report and possibly pay an income tax. All businesses and estate properties
of an individual who has passed on are subject to an income tax. A small
business owner or the executor of an estate property will have to file different
federal and state income tax forms than the traditional taxpayer. These forms
can be obtained at the same places where standard federal and state forms are
available.
About the Author:
Gray Rollins is a featured writer for the TaxHelpDirectory.com. To learn more
about income taxes, and tax filing, please visit our site.
|
