Form 1040 is the official name for IRS income tax returns and is used by individuals to report the taxable income of United States residents. All income earned for the year and income reported on your W-2 and/or 1099s must be reported on Form 1040 to calculate as part of AGI for the year and is reduced by reporting qualified expenses to reach an individual’s taxable income.
As a US resident, you are required to file the 1040 Form for the previous year. There are 5 categories or statuses under which a filer can file Form 1040 for most taxpayers. Filing the 1040 Form may come with benefits but may also have negative impacts if the filer does not file the form correctly. Tax2efile helps file personal federal income tax returns filed by United States residents for the filing status Single with a gross income of at least $12,550. (Under 65) or $14,250 (65 or older)
The deadline to file Form 1040 is on the 18th of April of the following year. If April 18th falls on a weekend or a national holiday, the deadline moves to the following business day. Failing to file a 1040 Form tax return could result in a penalty from the IRS.
To request more time to file your Form 1040, the individual will need to file form 4868. The IRS will automatically process an extension of 6 months to collect all of your information and file your tax returns. However, an estimate of the individual owed tax must be paid on or before April 18th.
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