IRS Form 1040 is the basic tax form many Americans will use. It also recently received an overhaul, so the other forms in this category are going to be removed as part of the Tax Cuts and Jobs Act (TCJA).
The new Form 1040 is now going to be the size of a postcard with 1040EZ and 1040-A removed from circulation entirely. However, there are a variety of new schedules, so you need to be aware that you don’t need to give less information they’ve just been moved to other forms.
So, let’s look at where you can find IRS Form 1040 and how to fill it out.
Getting IRS Form 1040
IRS Form 1040 can usually be found on the IRS website. You can easily print it off and send it away. Alternatively, you can file online, and it will cost you far less. It’s free to file online, and the IRS encourages people to file online, so they can get their refunds faster.
However, there’s a better way to fill out Form 1040.
The Best Way to Fill Out Form 1040
Form 1040 can be managed in a far superior way by using online tax preparation software. Platforms like TurboTax will enable you to simply enter your information into the system, when you have received your W2 online copy using TurboTax.
It will take the information you enter and populate the relevant parts of your 1040 for you. You don’t need to use a professional tax preparer or an accountant if your tax affairs are simple.
What if I Need to Use Other Forms?
In this case, your online tax preparation software will tell you which forms you need to use. Depending on the level of membership you have, you’ll be able to access these tax forms and fill them out in the same manner.
You’ll only need minutes to file your taxes.
Even if you finish your taxes before the date when you can first file your taxes, you’ll already have your taxes on record and they’ll be sent at the earliest possible opportunity.