Three basic federal tax forms for the current filing season are revealed in a new Examiner.com article, with links to each one to make filing easier.
Traverse City, MI -- (SBWIRE) -- 09/02/2014 -- Examiner.com now features an article with detailed insight into the current tax forms for this filing season. Filing a tax return is a challenge for many, so many choose between keeping records oneself and hiring a professional. The author details TurboTax as an easy way to file federal and state returns. Frank Ellis is a tax preparation planner out of Traverse City, and explains three 1040 tax forms.
Users of TurboTax just have to answer questions and the software generates the correct form. Each form to use depends on a person’s taxable income. By using the software, answers are put into the appropriate boxes with almost no chance of making a mistake. The 1040 form, intended for individuals, is covered rather than the paperwork corporations and associations must file.
The author explains the standard and long form versions of the 1040 tax form and the taxable income it is designed for one to file. It is suited for those entitled to itemized deductions or who have earned self-employment or property sales income. Complicated and lengthy, the author admits, most Americans use this federal form, but there are simpler options.
Form 1040A is suited for individuals with a taxable income below $100,000. It is identified as the one a person can claim a standard deduction with. Similar is form 1040EZ. Similar is form 1040EZ, the simplest of tax forms, which comes with its own set of rules touched upon in the article.
Once again, the author stresses TurboTax as the best tool for choosing the right tax form. The benefits of getting the biggest refund and phone or online chat help are mentioned too. Readers can also view an embedded explanatory video to better understand tax forms. Even more documents are explained here so one can find the right form for their financial situation.
To learn more about the available tax form for this year’s filing season, go to http://www.examiner.com/article/federal-income-tax-forms-for-2012-2013
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 800 articles on the Internet.
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