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Federal Income Tax Form

Written by Kathleen Gagne
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Which Federal Income Tax Form?

If you're new at doing taxes, it can be pretty confusing just choosing which Federal income tax form to use. Fortunately, there are guidelines available. You can get them locally at libraries and post offices. You can also find both the forms and the instructions online. Federal tax forms online can be downloaded at no cost.

Which form you use depends your income and your expenditures. The basic forms all have the numbers 1040 in them, and they range from 1040EZ to the regular 1040. The larger your income, and the more deductions you can take, the more complex the form. That doesn't mean you won't be able to complete your own form. It simply means that it will take more time to gather the information and answer the questions.

Other Federal Income Tax Forms

If you find that you need to use a more complex form, there is a good likelihood that you will also have to use additional forms. The most common added form is the one for calculating itemized deductions. Sounds pretty confusing, doesn't it? It can be very confusing, especially the first time you do it. Many people even go to a tax preparer without realizing that they have to do most of the legwork before they get there, and then they're shocked at all the questions.

There is another option, however. You can now do your income tax return online using the services of an online tax filing company. One of the advantages of this method, especially if you don't know much about the process, is that you will be guided through each step of each form. Since you will be doing it at your home, you'll be able to access additional tax documents as needed. Online tax preparation is very detailed. You are asked questions to first determine which form you will use and then to determine whether you know about all of the taxes you should pay and the deductions you can take.

When you've answered all the questions, they will review your form to make sure it's done right. You will be asked for payment at this point, and your charges will be based on the number and type of forms you completed. At that point, your form will be sent to the IRS, and you will receive a confirmation of receipt. You will then have the option to file online or mail a printed copy of your form. Finally, if you elect direct deposit, you will receive your refund within days.

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