In addition, some less common tax items prevent you from filing Form A. TaxAct makes preparing and filing your taxes quick, easy and affordable so you get your maximum refund. Start free now or sign into your TaxAct Account. Start for free Sign In. Related Articles. Read Article. Most Common Tax Forms. Your Guide to Filing Form U. Income Tax Return for Estates and Trusts.
College grants and scholarships also count as wages, so students should also have this information available.
Calculating your taxable income is relatively easy when filing a EZ. Unlike with other forms, you can't adjust your total income with any other deductions, your taxable income is your adjusted gross income AGI minus the standard deduction and personal exemption.
The IRS uses that total to determine the amount of tax you owe, which may already have been deducted by your employer. While most filers who use a ez form receive a refund, some may owe if less tax was withheld from their income during the year. If you're using our tax preparation software , we will help calculate how much credit you can claim automatically. This credit can lower the amount of tax you may owe dollar for dollar and may result in a refund. In order to be accepted electronically, a EZ must contain the name and social security number as it is on record with the IRS.
Know what tax documents you'll need upfront Get started. Learn what education credits and deductions you qualify for and claim them on your tax return Get started. The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice.
Skip To Main Content. The information below is accurate for tax years prior to If you are a citizen or resident of the United States, you can file a tax return on Form , A or EZ. Two filing status options The only filing status options on the EZ are single and married filing jointly. All you need to know is yourself Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest.
Looking for more information? Get more with these free tax calculators and money-finding tools. Stimulus Check Calculator See if you qualify for a third stimulus check and how much you can expect Get started.
Tax Bracket Calculator Easily calculate your tax rate to make smart financial decisions Get started. But choose carefully. There are three personal income tax forms — , A and EZ — with each designed to get the appropriate amount of your money to the IRS. The EZ is the shortest and simplest form, Form A is a bit more complex and the long Form is the most detailed and potentially difficult. But even if your tax life is simple and straightforward, it might be worthwhile to investigate the other two forms.
Generally, the longer the form, the more opportunities for tax breaks. If you previously filed Form EZ, but bought health insurance through an Affordable Care Act state or federal exchange, known as the marketplace, you can no longer file this simplest form. When individuals purchase a policy through an exchange, they have an option to receive advance payment of the premium tax credit. This tax credit helps cover some of the insurance costs. The advance credit amount, however, must be accounted for when the policy recipient files his or her tax return.
If the advance premium amount was too small, the taxpayer will get the extra. However, if too large of an advance premium credit was paid, the taxpayer must make up the difference, either by paying any tax due or by having the amount taken from an expected refund. Such calculations are made on Form , which only can be filed with Form A or If you received advance payments of the premium tax credit, you must file one of these longer forms instead of the EZ.
Even if you did not get the premium credit in advance but got health care through an exchange and want to claim it when you file, you must complete A or Take the case of tax filer Joe P.
A perfect EZ filer, right? Joe has a student loan. Joe also would get the chance to reduce his actual bill if he files the longer A. The better tax news for Joe is that a credit allows you a dollar-for-dollar reduction of what you owe the IRS. But the only tax credit shown on the EZ is the earned income tax credit, available only to low-income taxpayers. And there are even more tax-saving opportunities found on the long Form They might not apply to Joe, but they could cut your tax bill — if you take the time to look over each of the forms.
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