Tax Forms

There are numerous forms required by the IRS and State Revenue organizations. Tax code compliance will often require the filling out of various tax forms to comply with state and Federal rules.

IRS Tax Forms for Filing Taxes

Many common tax forms for individuals include the W-2, 1040, 1040-SR, 1099-NEC, and the 1099-MISC. Prior versions of the 1040 include the 1040-A and the 1040-EZ, retired after 2018.

The 1040 is the standard American Individual Tax form, everyone can file it.

The Form 1040-SR is available as an optional alternative to using Form 1040 for taxpayers who are age 65 or older. Form 1040-SR uses the same schedules and instructions as Form 1040 does.

1040A was an American individual income tax form. Your income must have been less than $100,000 and could only be from certain income sources. Only certain adjustments to income and tax credits could be claimed. Not itemization was allowed.

The former 1040EZ was the simplest of the 1040 forms individual taxpayers, limited to only those of moderate income and extremely simple financials. You could only use this form if you have no dependents, income is less than $100,000, claim no income adjustments (like student loan deduction), don’t claim tax credits other than the earned income tax credit, amongst other things. T

The W-2 is the report of wages for people that work a job that are paid a wage or salary, referred to as “on payroll.” The 1099-NEC (formerly the 1099-MISC) is used to report money paid to a contractor or vendor for non wage or salary work. This is referred to as “contractors” or “off payroll.”

Stimulus Payments: How To Find Them

By |2021-05-12T23:30:19-04:00March 3rd, 2021|Categories: #TaxTipTuesday|Tags: , , , |

Today I'll teach You How To Find Your Economic Impact Payments, better known as the IRS's stimulus payments, and how to check whether or not you received these payments. You can stop freaking out now; I've got your back.

Stimulus Check Was Never Received?

By |2021-05-03T22:02:02-04:00February 25th, 2021|Categories: Quickies with Bette|Tags: , , , , , , |

If you're one of the unfortunate souls who were qualified for a stimulus check but did not receive one or received less than you should've; worry no more! When you file your taxes this year, there will be a section just for you called the recovery rebate credit.

Taxes When Married

By |2021-05-12T23:30:25-04:00February 10th, 2021|Categories: #TaxTipTuesday|Tags: , , , , |

Valentine's Day is not that far off, so I figured what could be more romantic than a discussion about taxes. Maybe not actually the most romantic discussion, but marital strife around finances is one of the leading causes of divorce. So, even though it might not seem romantic, it could be super beneficial to your relationship if you actually go ahead and figure out how you want to file your taxes.

How to Fill in Form 2553 Election by a Small Business Corporation S Election

By |2020-12-01T02:03:48-05:00July 5th, 2018|Categories: |Tags: , , |

S Corporations are popular and have many tax advantages. If you wish you make your new (or existing) corporation an S Corporation, you need to fill our Form 2553 for the S Corporation Election.

When Outsourced Payroll Goes Bad

By |2021-05-12T23:31:21-04:00September 2nd, 2014|Categories: #TaxTipTuesday|Tags: , , , |

Usually, when you work with a payroll company, the last thing you expect is for them to not send your tax payments to the IRS. Unfortunately, in a recent court case, when a payroll company declared bankruptcy, that is exactly what happened.

Copies of Tax Returns and Other Tax Information from the IRS

By |2021-05-12T23:32:08-04:00June 24th, 2014|Categories: #TaxTipTuesday|Tags: , , , |

Can’t find your copy of an old tax return? Not sure that you received all your 1099s or other tax forms this year? You can get the information from the IRS by requesting transcripts or copies of tax returns.

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