Tax Software


Syndicate content

1040 Tax Form

Written by Kathleen Gagne
Bookmark and Share

The 1040 Tax Form

While the 1040 tax form has been around for years, there have been many changes in the way you fill it out. As a result, when working on your return, it's important to read the instructions for every line since some of the guidelines may have changed. If you're one of those people who is really daunted by this form, you'll be happy to learn that there are several ways to make the process less stressful.

Again, it's critical that you understand what number goes on each line. Don't start working on the form until you have gathered all of the tax documents you'll need to complete it. This includes all of your W2s and interest documents from banks, investments, or student loans you paid. You should also spend some time determining how much you spent for medical care being careful not to include those amounts for which you may have been reimbursed. You will want to have any documentation you have available about charitable donations.

Eliminate the Stress the Easy Way

One of the easiest ways to reduce or eliminate the stress altogether is to use the services of an online tax preparer. These companies have programs that begin with a series of questions to determine which IRS form you should use. They then walk you through each step of the process by asking questions and checking your responses.

If you're concerned about the cost, don't be. Using an online service is very affordable, especially if it saves you tax money by finding an area that you had overlooked. They will even direct you to gather the documents listed above, and, if your responses do not fall within normal ranges, many of them will prompt you to check your numbers. The best part about using an online tax filing site to do your 1040 tax form is that you can have your refund direct deposited into your bank account, and you will get it in a matter of days rather than weeks.

Bookmark and Share