Income Tax Return Filing 101

The month of April rolls around and most of Americacan also visit the website of the Internal Revenue
is getting ready to prepare their income tax returns.Service (IRS) which is found at irs.gov. The Internal
Every year everyone who made an income areRevenue Service has a collection of federal income
required to report income to the federal and statetax forms that can be downloaded and printed at their
governments by filing an income tax return. Taxpayersweb-site.
must file two separate income tax returns. OneIn some states a taxpayer reports their income earned
income tax return goes to the federal government andto their state government. They will also have to fill out
the other goes to the state government that thea separate state tax return form. Each state has their
taxpayer lives in. Most of taxpaying Americans areown income tax return forms, and Laws. The form
able to fill out a Form 1040A: U.S. Individual Income Taxnumbers will all be different because they vary from
Return. People that do not have any children orstate to state; however, some forms will have the
qualified dependents are able to file a federal 1040EZsame heading. It is not uncommon for a state income
form. This form is also known as the Income Taxtax form to be known as the Resident Income Tax
Return for Single and Joint Filers With No Dependents.Return. As with federal income tax returns, the
The 1040EZ is basically a shorter version of the 1040Amajority of states have a long income tax return form
form; however, taxpayers must meet certainand a short one. Taxpayers who are able to fill out
requirements before filing a 1040EZ form. IRS e-file isand file a short state income tax return are
fast becoming extremely popular with taxpayers asencouraged to do so because it saves many
well. Find everything electronic in one place at irs.gov.taxpayers a large amount of tax preparation time. As
This includes filing information,how to pay electronically,with most federal income tax forms, state tax return
and more.According to the website of the Internalindividuals are likely to have a packet of state income
Revenue Service (IRS) which is found at irs.gov.tax forms mailed directly to their home. It is also
Seventy percent of the nation's taxpayers are eligiblepossible for taxpayers to find their state tax forms at
for free tax preparation software and free electronictheir local post office, financial institution, or library.
filing. See if you are eligible, by visiting their site. ThisCheck your own State Laws for the details.
year new tax relief provisions apply to individuals andIn addition to the regular taxpaying individual, there are
businesses affected by the hurricane season.several others who have to report and possibly pay
Most of taxpayers will have the income tax formsan income tax. All businesses and estate properties of
they need mailed to their home address. This option, toan individual who has passed on are subject to an
have federal income tax forms mailed to a taxpayer isincome tax. A small business owner or the executor
given on the previous year's tax forms. People who doof an estate property will have to file different federal
not wish to receive federal income tax forms but doand state income tax forms than the traditional
need them can get the forms from a number oftaxpayer. These forms can be obtained at the same
sources. Many paper forms are available for pickup atplaces where standard federal and state forms are
many local post offices, banks, and libraries. Taxpayersavailable.