What
is the 1040 Tax Form?
This form is a tax form for individuals
in the United States of America. The form was first used
as an individual tax form for four years in the early 1900s
but was converted into an annual tax form. The form has
many different versions of it and the version that you use
depend on either your immigration status or your tax status.
The form is usually due on the 15th of April the following
year.
The form has two pages and that is not
counting the attachments that you will send it with. The
first page of the form requires you to fill in information
such as income items, dependents and adjustments to income
second page looks at how much tax you have to pay in context
with the amount of income that you get.
The form has attachments that are called schedules and
they number eleven of them. The eleven schedules all have
different functions and you have to fill in the schedules
that affect you as an individual. There is the short form
and the long form of the tax form. The short form is the
tax form for individuals that earn less than 100 thousand
dollars in a year.
Compared to the long form the short form has a few sections
that one has to fill and understandably so as they do not
earn that much. Self employed people and farmers are some
of the people that have to fill the form. If you are in
a partnership you have to fill this tax form for your earnings
in the partnership. Remember to pay your taxes as the internal
revenue services is always looking. |
