Income Tax Return
1040-EZ Form is a tax document used by individuals to report their income, calculate their taxes, and claim deductions. It is the only document that reports personal income taxes. It is two pages long, with six lines on the first page that are used for income, deductions, and tax credits. There are six more lines for deductions, military, retirement plans, credits, and income, on the second page.
It is a simplified, shorter version of the printable 1040 EZ Form. It is for filers with income below a certain threshold and who have very basic deductions and credits. Threshold in 2018 is $100,000 for single and $200,000 for married filing jointly. Taxpayers should use the 1040EZ Form 2021 printable if they meet these qualifications and if they do not need to file certain documents to claim certain deductions or credits.
Filing Tax Forms 1040EZ is the easiest way to file your taxes if you have a very simple tax return, if you are close to the threshold, or if you need to file a tax return only because you have one of the following credits:
- Earned Income Credit
- Education Credit
- Lifetime Learning Credit
- American Opportunity Credit
Reasons for Filling Out The Form
There are many reasons that taxpayers should complete the document. 1040EZ Form is used to calculate the tax owed and what will be returned to the taxpayer. It should only be completed when the taxpayer has no other items to take into account in their taxes. The 1040EZ with instructions is also used when the taxpayer is not owed any money and does not need to file a return. Document is not necessary to attach to the return unless the taxpayer is owed a refund.
Fill Form1040EZ vs. 1040
Differences between the 2021 1040EZ Form printable and 1040 are that form EZ type is the simplest document that the IRS offers, but it is not available to all taxpayers. It is only available to people who are not self-employed, have no dependents, take no itemized deductions, do not owe self-employment tax, have no adjustments to income, have no income from farming or fishing, have adjusted gross income below $100,000, are not a US citizen living abroad, do not owe Social Security or Medicare tax on unreported tips, have only one income source, do not itemize deductions, are not claiming the Standard Deduction.
Who Can File Form Printable 1040EZ?
One can file Federal Tax Form 1040 EZ if they are single, under 65 years old and not blind, not filing for a spouse, and not a dependent of another person. Person must not have investment income over $1,500 and the person’s total income cannot exceed $100,000. The person must not have claimed any tax credits and the person cannot be claimed as a dependent on someone else’s tax return.
The Form 1040EZ 2021 is for taxpayers who:
- Received wages and didn't take any deductions,
- Received unemployment compensation,
- Received taxable scholarships and fellowships,
- Received taxable interest, dividends, and capital gains,
- Paid less than $100 in self-employment tax,
- Were a part of a household with a total income of $100,000 or less,
- Claimed a refundable credit or had no taxes withheld, and
- Weren't a U.S. citizen or resident alien in the current year and didn't have any income from sources outside the United States
IRS Form 1040-EZ With Instructions & Tips
Fill NowFAQ
- What is the 1040EZ online form?It is a simple and straightforward tax document that anyone can fill out and file with the IRS.
- What is the difference between a Traditional IRA and a Roth IRA?What is the difference between a Traditional IRA and a Roth IRA?
- What can I use my printable 1040 EZ Tax Forms for?It is a short document that is used when an individual has no dependents, is not self-employed, and is not claiming any deductions or credits.
- What is the purpose of the 1040 EZ fillable form?It is a shorter, simpler version of the printable Tax Forms 1040 EZ that is designed for people who have simple tax situations.
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