Individual Forms

Form 1040

Form 1040 (U.S. Individual Income Tax Return) is one of three IRS tax forms used for personal (individual) federal income tax returns filed with the Internal Revenue Service (IRS) by United States residents for tax purposes.

Income tax returns for individual calendar year taxpayers are due by April 15 of the next year, except when April 15 falls on a Saturday, Sunday, or a legal holiday. In those circumstances, the returns are due on the next business day. An automatic extension until Oct. 15 to file Form 1040 can be obtained by filing Form 4868.

While residents of the United States for tax purposes file Forms 1040, 1040A, or 1040EZ, nonresident aliens must file Form 1040NR or 1040NR-EZ.[7] There is also a "dual status alien" for aliens whose status changed during the year.

Filing Method

Paper filing is the universally accepted filing method. Form 1040, along with its variants, schedules, and instructions, can be downloaded from this page. As a general rule, where possible, it makes sense to fill electronically, but in some cases filling by hand may be necessary, For example - signatures.

The paper Form 1040, along with all relevant schedules and additional forms, must be sent in a single packet by mail or courier to an IRS address determined by the US state the taxpayer is filing from and whether or not a payment is enclosed; the addresses for the three forms (1040, 1040A, 1040EZ) are identical.

The IRS accepts returns that are stapled or paperclipped together. However, any check or payment voucher, as well as accompanying Form 1040-V, must not be stapled or paperclipped with the rest of the return, since payments are processed separately.

The IRS allows US residents for tax purposes to file electronically in three ways:

  • Those with incomes of $62,000 or less may file electronically using IRS Free File.
  • It is possible to prepare one's tax return using a tax compliance software approved by the IRS and have the software file the return electronically.
  • One can use a tax professional who has been accepted by the IRS for electronic filing.

  • Electronic filing makes one's tax return more likely to be audited because it is already in a format accessible to the IRS, whereas of paper returns, only 40% are transcribed, so that the remaining are not even in the running for being audited.

    1040A

    The 1040A is a shorter version of the standard Form 1040. It is limited to taxpayers with taxable income below $100,000 who take the standard deduction instead of itemizing deductions.

    1040EZ

    The 1040EZ (For Single and Joint Filers with No Dependents) is a simplified, six-section version of the 1040. Its use is limited to taxpayers with taxable income below $100,000 who take the standard deduction instead of itemizing deductions.[25] The 1040 or 1040A can always be used in place of the 1040EZ, but not the other way around.

    1040X

    The 1040X is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed.

    1040-V

    The 1040-V is used as an optional payment voucher to be sent in along with a payment for any balance due on the "Amount you owe" line of the 1040. The form is entirely optional. The IRS will accept payment without the 1040V form. However including the 1040-V allows the IRS to process payments more efficiently.

    Form 1040 has 14 attachments, called "schedules", which may need to be filed depending on the taxpayer.

    Schedule A Itemizes allowable deductions against income; instead of filling out Schedule A, taxpayers may choose to take a standard deduction of between $6,350 and $12,700 (for tax year 2017), depending on age, filing status, and whether the taxpayer and/or spouse is blind.

    Schedule B enumerates interest and/or dividend income, and is required if either interest or dividends received during the tax year exceed $1,500 from all sources or if the filer had certain foreign accounts.

    Schedule C lists income and expenses related to self-employment, and is used by sole proprietors.

    Schedule D is used to compute capital gains and losses incurred during the tax year. NOTE: Along with Schedule D, Form 8949 and its Instructions may be required.

    Schedule E is used to report income and expenses arising from the rental of real property, royalties, or from pass-through entities (like trusts, estates, partnerships, or S corporations).

    Schedule EIC is used to document a taxpayer's eligibility for the Earned Income Credit.

    Schedule F is used to report income and expenses related to farming.

    Schedule H is used to report taxes owed due to the employment of household help.

    Schedule J is used when averaging farm income over a period of three years.

    Schedule R is used to calculate the Credit for the Elderly or the Disabled.

    Schedule SE is used to calculate the self-employment tax owed on income from self-employment (such as on a Schedule C or Schedule F, or in a partnership).

    Schedule 8812 is used to calculate the Child Tax Credit.

    Form 990

    The Form 990 provides the public with financial information about a nonprofit organization. In addition to Form 990, tax-exempt organizations are also subject to a variety of disclosure and compliance requirements through various schedules which are attached to Form 990 (and, in some cases, 990-EZ or 990-PF).

    Schedule A Public Charity Status and Public Support.

    Schedule B Schedule of Contributors.

    Schedule C Political Campaign and Lobbying Activities.

    Schedule D Supplemental Financial Statements.

    Schedule E Schools.

    Schedule F Statement of Activities Outside the United States.

    Schedule G Supplemental Information Regarding Fundraising or Gaming Activities.

    Schedule H Hospitals.

    Schedule I Grants and Other Assistance to Organizations, Governments, and Individuals in the United States.

    Schedule J Compensation Information.

    Schedule K Supplemental Information on Tax-Exempt Bonds.

    Schedule L Transactions With Interested Persons.

    Schedule M Noncash Contributions.

    Schedule N Liquidation, Termination, Dissolution, or Significant Disposition of Assets.

    Schedule O Supplemental Information to Form 990.

    Schedule R Related Organizations and Unrelated Partnerships.

    Form 1040NR/1040NR-EZ

    In general, nonresident aliens must file Form 1040NR-EZ or Form 1040NR if they engaged in any trade or business in the U.S. during tax year and thus they had U.S. source income. Studying, teaching, and doing research are all considered to be activities in which the taxpayer is engaged in a trade or business.

    Nonresident aliens who are students, teachers, or trainees, and are temporarily present in the U.S. in F, J, M, or Q immigration status, must file tax return only if they have income that is subject to withholding, even if no tax was withheld. But even students and scholars who are not required to file tax returns should do so if they are eligible for refunds.

    If your only U.S. income during tax year was U.S. bank interest, you must file Form 8843 only

    Form 1040NR

    Most international students and scholars qualify to file Form 1040NR-EZ. They must file Form 1040NR if they:

  • had income from mutual funds, stocks or bonds.
  • are claiming other deductions than state and local taxes.
  • are claiming dependents (residents of Canada , Mexico , Japan , Korea and students from India only).
  • had income as independent contractor on Form 1099.
  • are claiming unreimbursed employee expenses (moving, travel, continuing education).

  • Form 1040NR-EZ

    You can use Form 1040NR-EZ instead of Form 1040NR if all of the following statements are true:

  • You do not claim any dependents.
  • You cannot be claimed as a dependent on another person's U.S. tax return.
  • Your only U.S. source income was from wages, salaries, tips, taxable refunds of state and local income taxes, and scholarship or fellowship grants.
  • Your taxable income is less than $100,000.
  • The only adjustments to income you can claim are the student loan interest deduction or the exclusion for scholarship and fellowship grants.
  • You do not claim any tax credits.
  • If you were married, you do not claim an exemption for your spouse.
  • The only itemized deduction you can claim is for state and local income taxes.
  • The only taxes you owe are income tax.

  • Entity Forms

    Form 1065

    Form 1065 is the U.S. Return of Partnership Income. Form 1065 is used by partnerships and If your business is an LLC with multiple members, who have not elected to be taxed as a corporation or S corporation, file federal taxes as a partnership. No tax is calculated or paid from Form 1065. any tax due is paid by the partners or LLC members. A multiple-member LLC is taxed as a partnership

    Schedule K-1

    This form allocates partnership items as well as separately stated items to shareholders so they can report them on their personal returns. Page 2 of this schedule directs partners who are individuals filing Form 1040 where to report the items. For example, a partner’s share of profit or loss (the ordinary income or loss from page 1 of Form 1065) is reported on Schedule E of an individual’s Form 1040. A partner’s share of net long-term capital gains is reported on Schedule D of Form 1040 (and may have to be entered on Form 8949 as well).

    Form 1041

    IRS Form 1041 is the tax return used by estates and trusts when they earn income during the course of the tax year.

    According to the instructions for IRS Form 1041, the following rules apply to estates. The executor or personal representative must file this tax return for a domestic estate that has:

  • Gross income for the tax year of $600 or more, or
  • A beneficiary who is a nonresident alien.

  • Series 1120

    Form 1120

    A corporation pays income tax by filing a corporate tax return on Form 1120 and paying the taxes as indicated by this return.

    Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income. Domestic corporations must file Form 1120, unless they are required, or elect to file a special return.

    Schedule A Cost of Goods Sold

    Schedule C Dividends and Special Deductions (NOTE: This is not the same Schedule C as the one completed by sole proprietors as part of their personal income tax returns).

    Compensation of officers

    Schedule J More detail on tax computation, including credits and other taxes.

    Schedule K Other information, about accounting method, business type, NAICS classification number, ownership of stock and information about shareholders.

    Schedule L Balance Sheet per books, at the beginning of the year and the end of the year (the beginning balance sheet should be the same as last year's ending balance sheet.

    Schedule M-1 Reconciliation of Income/Loss Per books with Income per return (this is a calculation your tax preparer will probably have to do.

    Schedule M-2 Analysis of un-approrpriated retained earnings per books (another section your tax preparer will need to do).

    Form 1120 S

    Form 1120-S is used by a domestic corporation or other entity covered by any election to be an S corporation to report income , gains losses, decutions, credits, etc. for any tax year.

    Form 1120 C

    U.S. Income Tax Return for Cooperative Associations, is used by cooperatives for tax returns.

    Form 1120 H

    .S. Income Tax Return for Homeowners Associations, is used by condominium and housing associations for tax returns.

    Payroll Taxes

    Form 940

    Form 940 is used to calculate a business' annual Federal Unemployment Tax Act (FUTA) tax. The money from this tax goes towards paying unemployment compensation for those that have lost their jobs. Because this tax is paid by the business, it is not deducted from employee's payrolls.

    It is due to the IRS once a year on January 31, for the preceding tax year. For example, tax deposits made in 2016 must be reported on Form 940 that is due on January 31, 2017.

    Under the Federal Unemployment Tax Act (FUTA), employers have to pay a tax rate of 6% on the first $7,000 that each employee earns. The good news is that the amount you pay to the federal government can be reduced by the amount of unemployment tax that you pay to the state. Paying state unemployment taxes on time can reduce your FUTA taxes to as little as 0.6% on the first $7,000 each employee earns.

    Form 941

    As the name implies, it is a quarterly tax form that tells the IRS how much money your company has withheld in federal income tax, social security, and Medicare. The company then has to send those withholdings to the government.

    Unlike corporate quarterly taxes, which only need to be paid after the quarter is over, employee taxes have to be paid either semi-weekly or monthly.

    Form 942

    Employer's Quarterly Tax Return for Household Employees (no longer used, replaced by Schedule H of Form 1040)

    Form 943

    Employer's Annual Federal Tax Return for Agricultural Employees

    Form 944

    Employer’s Annual Federal Tax Return.

    Transfer Taxes

    Form 706

    United States Estate (and Generation-Skipping Transfer) Tax Return, is used to report estate taxes

    Form 709

    United States Gift (and Generation-Skipping Transfer) Tax Return, is used to report gift taxes