FILLING OUT A 1040EZ

Section 1

First you need to look at the form and put in all of the person's information including their First and Last name, the social security numbers of both the person and their spouse, and their address. All of this information will be located at the very top of the form. The form you will need to complete this is the W-2. This form (W-2) is given to you by your boss, not your bank. Typically the due date to fill these taxes out lie on April 15th

How to Fill the Form out

Step 1-It starts with filling out a person's income, salary, and tips. So basically all the money that the person's earns total you write that number down. This is found on your W-2.

Step 2- You need to find your taxable interest. You do this by finding it that information can be also found on your W-2. If that number is higher than 1,500 you don't use form 1040EZ.

Step 3- If you get Unemployment Comp you can also write that number down however in a lot of cases that number will just be zero.

Step 4- Add steps 1,2,3 together to find your adjusted gross income.

Step 5- This is if another person can claim you as your spouse you basically get more money, married people get more money from tax returns than single people do. If nobody can claim you enter 10,300 for singles, and 20,600 if the married are filling jointly.

Step 6- Subtract your adjusted gross income (Step 4) From your spouse or single amount which was explained in step 5. Write that number down.

Step 7- The next step is the find out how much Federal Income tax was withheld. This amount can be found on your W-2 as well as the 1099.

Step 8- Its possible that you may have an Earned Income Credit (EIC) and a non taxable combat pay election. This tax may give you a refund if you don't owe any tax. It can be claimed on form 1040.

step 9- to find your total payments and credits you can add your EIC and your Federal Tax Income.

step 10- Use the amount on step 6 and to find your tax within a tax table to find that amount.

Step 11- If you have health care you write the taxes for that and also make sure to check the box that says full year coverage if necessary.

Step 12- Add the numbers from steps 11 and 10. This number is your Total Tax.

Step 13- You can find how much you refund or owe by looking at step 12 and 9. If the amount in step 12 is larger than 9 you need to subtract the amount from 9 from 12, that number will be how much money is either refunded or owed.


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