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Keep It Simple : File the 1040EZ
from: Craig StanfordCompared to many people, my taxes are pretty simple. I’m not married yet, so I don’t have any kids. I’m not self employed, although sometimes I would like to be.All and all, my taxes are so simple that the IRS form 1040EZ is all I ever need. I have a friend that is an accountant and he said that even though I don’t itemize deductions, I should still save all my documentation like W-2’s in case I get audited.
I filled out my first IRS form 1040ez when I was 18 years old. I am no wiz at math but I was determined to at least give it a try before seeking help from someone who had experience with tax preparation. The IRS form 1040ez was so simple that I was almost embarrassed that I was so apprehensive about the venture.
Many of us try to avoid filling out these kinds of forms independently but you can probably work your way through this form with no help at all. If you start early you will be able to ask someone else to look over the work for you. A friend or family member will do. You don’t need a professional tax accountant to check your IRS form 1040ez for you.
It is possible to make a little mistake here or there so it is best to have a fresh pair of eyes look over the math before you send the IRS form 1040ez to the government. You could even check your own work once you have given yourself a rest. It never hurts to double check this kind of information and it can save you a lot of hassle in the long run.
The IRS form 1040ez is also easy to find. I usually receive mine in the mail but I do like to have a spare in case I make a colossal error that can’t be fixed. You can find additional forms at a local tax preparation organization or even at your local post office. Having a couple extras lying around is usually a good idea because mistakes are easy to make.
Some people used to fill out the tax form via the telephone. Telefiling was really popular a few years ago but it seems to have fallen out of favor. The service isn’t available anymore and I can definitely see why. The process was really time-consuming and confusing. Many of us preferred to send the IRS form 1040ez through traditional mail.
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Income Taxes News
Homeowners Cut Home Energy Bills and 2009 Federal Income Taxes with Energy Efficiency Home Improvements (Kansas City InfoZine)
U.S. homeowners have a new opportunity to lower their energy costs and save up to $500 on their 2009 federal income taxes by making specified energy efficiency upgrades to their homes, advises the Tax Incentives Assistance Project (TIAP).
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TOKYO, Jan 7 (Reuters) - Japan's government will seek to scrap capital gains taxes for foreigners investing in Japanese companies through funds, in a bid to kick-start investment which has slowed amid the global economic downturn, the Nikkei business daily reported on Wednesday.
Read more...Cameron: cut taxes for savers (Channel 4)
The Conservatives would abolish basic-rate income taxes on savings if they were elected this year, Cameron promised today. He also pledged to raise the income tax allowance for pensioners - currently up to around £9,180 - by £2,000.
Read more...(AFX UK Focus) 2009-01-07 00:57 Japan set to scrap taxes for foreign investors-paper (Interactive Investor)
TOKYO, Jan 7 (Reuters) - Japan's government will seek to scrap capital gains taxes for foreigners investing in Japanese companies through funds, in a bid to kick-start investment which has slowed amid the global economic downturn, the Nikkei business daily reported on Wednesday. Japan currently levies a corporate tax of about 40 percent on capital gains when foreign firms sell shares through ...
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