The New IRS Form 1040 is Ready in Time for Tax Season
The new 1040 has been approved in time for the upcoming tax season. Forms 1040A and 1040EZ will no longer be available. Click https://www.irs.gov/pub/irs-pdf/f1040.pdf for a view of the new form.
Do not be fooled by the”postcard” 1040. You will find that you may also need to fill out the following schedules.
Schedule 1: If you have additional income such as capital gains,unemployment, prizes or gambling or have any deductions such as student loan interest, self-employment tax or educator expenses.
Schedule 2: If you owe alternative minimum tax.
Schedule 3: If you are claiming a non-refundable credit such as foreign tax, business credit or education credits.
Schedule 4: If you owe other taxes such as self-employment tax and household employment taxes.
Schedule 5: If you can claim a refundable credit other than earned income credit, additional child tax credit or American Opportunity Credit or have other payments.
Schedule 6: If you have a foreign address or third party designee,other than your return preparer.