Business & Finance Taxes

Tips for Filing Your 1040-EZ Tax Return



What is Form 1040-EZ?

Form 1040-EZ is a tax form published by the Internal Revenue Service. Form 1040-EZ can be used by individuals to report their income, report their federal income tax, and calculate any refund (overpayment of tax) or balance due (underpayment of tax).

Why Use Form 1040-EZ?

Many people qualify to use the 1040-EZ form. The 1040-EZ form is easier to fill out and less time-consuming compared to the longer Form 1040-A and Form 1040.

Form 1040-EZ may be the right tax form for a person to fill out if that person does not have any kids or dependents, does not own a home, or did not attend college during.
However, taxpayers might consider using Form 1040-A instead. By using the Form 1040-A, a person can report various common tax deductions and tax credits. Form 1040-A is longer than the Form 1040-EZ and shorter than Form 1040.

Quick Links Relating to Form 1040-EZ for Year 2012

Do you need Form 1040-EZ for an earlier tax year? All links below are for the PDF file format:

Are You Eligible to File the 1040-EZ?

Individual taxpayers can file the Form 1040-EZ if they meet the following conditions:
  • Total income is under $100,000;
  • Total interest income is under $1,500;
  • Filing status is single or married filing jointly;
  • The only types of income are wages, grants, scholarships, interest, unemployment compensation, and Alaska Permanent Fund dividends;
  • The taxpayer is younger than 65 years old;
  • Not reporting any tax-deductible adjustments to income;
  • Claiming only the standard deduction;
  • Form 1040-EZ can be used to claim the Earned Income Credit;
  • Form 1040-EZ cannot be used to claim any other tax credits.

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