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To do your taxes properly, you will need to have the proper tax forms handy. There are many different forms that taxpayers must fill out to report their income, profit or loss from a business and any investment income that they had throughout the year.

Form 1040

Form 1040 is where taxpayers report their regular income from the past year. On this form, taxpayers will also indicate any deductions, credits or rebates that they will be using to offset some of their taxable income. Common reductions to taxable income include the standard deduction and exemption, student loan interest and the mortgage interest deduction.

Form 1099

This form is given out to those who worked as an independent contractor over the past year. If you earn more than $600 from any one company, you are required to get this form. The entity that you worked for must also send a copy of this form to the IRS. A 1099 will indicate how much money you made as an independent contractor and will be used as the baseline for how much self-employment tax you owe among other taxes.

Form 1120 And 1120s

Form 1120 is a corporate form that must be filed with the government. If you are running a s-corporation, you must fill out form 1120s no later than March 15th. Shareholders will also have to fill out a K-1 form which indicates their profit from investing in a corporation. The government will also require corporations to file Form 940 and 941 on a quarterly basis.

Figuring out which tax forms that you need to fill out can be a confusing process. However, these are the main forms that the typical taxpayer will need to file an accurate return this year. If you have any questions regarding your tax return, talk to the IRS or an enrolled agent as soon as possible for assistance.

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Q: Getting To Know The Various Tax Forms?
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Related questions

Where to get IRS tax forms?

IRS tax forms are usually available in public libraries. They are available on the internet. Various tax programs produce them on a computer printer.


what kind of test questions are asked on a tax test qualify as tax preparer?

You should be given real tax forms and case studies of various types of tax returns to be done on the tax forms with paper and pencil and a calculator. Even though you will be doing actual returns on the computer using tax software, they want want you to learn the theory behind the tax software. How do I know this? I am a tax preparer.


What are some sources of free advice on getting tax relief?

One of the first sources of free advice on getting tax relief is actually the irs website. It is www.irs.gov. There you will find publications on various tax topics and necessary forms. There are also taxpayer assistance centers. Call 1-888-227-7669 to contact the AARP for help locating free tax assistance center closest to you.


Where can I download Federal income tax forms for free?

The IRS provides a wealth of information on their website. This includes links to various IRS Forms.


do you carry tax forms?

do you carry tax forms


Searching for 1041 Tax Software?

Trying to find 1041 tax software might be complicated, since this is not as common as the usual 1040 tax form. Still, you should be able to find some tax software products that contain a number of uncommon forms. These are normally products that have a comprehensive listing of various tax forms.


Where can I find free income tax filing?

You can find free income tax filing by getting the forms from any Canada Post office. You can fill out these forms by hand for free and mail them in once completed.


What is a 1120 tax return?

1120 tax forms are tax forms for C Corporations.


Where can one find more information about the tax form TD1?

One can find more information about the tax form TD1 at the IRS websites which contain tax forms pertaining to various natures of tax and revenue particularly the tax form TD1.


How do i go about geting estate tax credit?

I would have a professional handle the estate tax credit. Most tax credits are time-sensitive and require various forms be filed. Why risk losing money?


What do I need to know about filling out state tax forms?

The state tax forms you will need to fill out vary by state. Therefore, visit www.irs.gov to learn more about which froms are necesary in your particular state. You need to know your income and expenses for the year. You can get all the forms you need from IRS.gov website.


What is the address in GA to send amended tax forms?

as far as i know yo mama does.