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Form 1040 - Individual Income Tax
DEFINITION OF '1040 FORM' The standard Internal Revenue Service (IRS) form that individuals use to file their annual income tax returns. The form contains sections that require taxpayers to disclose their financial income status for the year in order to ascertain whether additional taxes are owed or whether the taxpayer is due for a tax refund. 1040 forms need to be filed with the IRS by April 15. Also known as the "U.S. individual income tax return" or the "long form".
Form 1040A - Individual Income Tax
The IRS Form 1040A is one of three forms you can use to file your federal income tax return. Form 1040A is a shorter version of the more detailed Form 1040, but is more complex than the simple 1040EZ form. All taxpayers can use Form 1040; however, to use Form 1040A you must satisfy a number of requirements, such as having taxable income of $100,000 or less and claiming the standard deduction rather than itemizing
Form 1040EZ - Individual Income Tax
The 1040EZ is an alternative to the Internal Revenue Service's (IRS) 1040 income tax form and offers a faster and easier way to file taxes, meant for taxpayers with rudimentary tax situations. In order to be eligible to use this form, the individual must have a taxable income of less than $100,000, interest income of $1,500 or less, possess no dependents and fulfill other requirements set by the IRS.
Form 1040X - Amended Individual Return
A form used by taxpayers who have to amend their tax returns for any reason. Form 1040X is an itemized, line-by-line description of all necessary adjustments, so that the taxpayer can clearly record the exact type and amount of each amendment, and give a brief description of what is being amended and why.