The new year marks the official beginning of tax season, but do you know how to file taxes the right way? After working hard all year long, many people shudder at the very thought of 1040s and W2s, but luckily, the process isn't too tricky with the right information by your side. Let's dive into the basics of how and when can you file taxes, so you can file with total confidence!
Forms That You May Need
While the old system was full of confusing paperwork like the 1040A and 1040EZ forms, the IRS has created a new 1040 form that is the size of a postcard. The 1040 tax form is the standard federal income tax form that you'll need to report your income properly, so don't forget that number! So, where do you pick it up? You can easily download the 1040 tax form online for convenience, but if you'd prefer a hard copy, there are many locations that you can visit. Post offices, libraries, tax centers, and IRS offices across the nation have the supplies you need to file by the deadline of April 15th.
Factors That Affect Taxes
Why do taxes vary so much from person to person?