Federal Taxes Forms: A Guide to Common Forms for Tax Filing

Federal Taxes Forms for Personal Taxes

federal taxes forms help
Before you file your tax returns, you need to know what Federal taxes forms are required and how to fill them out correctly. Knowing the correct Federal taxes forms will also save you a great deal of time filling out paperwork, frustration with complicated information, and future tax problems. This page will simplify the common Federal taxes forms used by individual taxpayers.

Income Federal Taxes Forms

The first Federal taxes forms you will always need before proceeding are income forms. For most people, these are the W2s they receive in January from their employers. W2s provide information about your annual income and how much tax was withheld from your checks. If you made any other source of income, you will need a 1099 form. 1099s are needed to report money you may have made from sources such as contract work, stocks, and retirement withdrawals.

1040 Federal Taxes Forms

Every taxpayer filing personal taxes is required to file some type of 1040 Federal taxes forms. The following is a list of the different 1040 Federal taxes forms and what they are used for.

  • 1040 - Used by most taxpayers to document income, deductions, and credits.
  • 1040A - For taxpayers with fewer sources of income, deductions, and credits to report.
  • 1040EZ - Simplest form used to report the bare minimum if you meet certain conditions.
  • 1040ES - Self-employed individuals use this to report quarterly estimated tax.

Schedules for Federal Taxes Forms

Schedules are Federal taxes forms that you can use to figure out important information such as deductions and interest. The following is a list of common Schedules used by individual taxpayers and how they help.

  • Schedule A - Used to itemize the deductions on your tax returns.
  • Schedule B - Used to list all interest and ordinary dividends.
  • Schedule C - Reports income and losses from practicing as a sole proprietor.
  • Schedule D - Reports sales and exchanges of assets, and capital gain distributions.
  • Schedule E - Reports income or loss from rentals, royalties, estates, and trusts.
  • Schedule M - Used if you qualify for the "Making Work Pay" Credit.
  • Schedule SE - Used to figure Self-Employment Tax, if you meet certain conditions.

Who Needs Professional Help with Federal Taxes Forms?

If you are catching up on filing back tax returns, you may need help from a tax professional. A tax professional will have the knowledge and experience to fill out years' worth of Federal taxes forms quickly and correctly. Doing that on your own may lead to audits, or even worse a steep tax debt.

If you need help filling out Federal taxes forms for back tax returns, consult a professional. Call now or fill out the form below for a free tax debt consultation on how to use Federal taxes forms for the best possible outcome! We'll only connect you with a tax debt relief company holding at least a B rating with the Better Business Bureau.

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