20b Cat. No. 11320B Form 1040 2007 Tax and Credits Page Amount from line 37 adjusted gross income 39a Check if Itemized deductions from Schedule A or your standard deduction see left margin If line 38 is 117 300 or less multiply 3 400 by the total number of exemptions claimed on line 6d. Form Department of the Treasury Internal Revenue Service U.S. Individual Income Tax Return For the year Jan. 1 Dec. 31 2007 or other tax year beginning Label See instructions on page 12. Attach Schedule SE...Unreported social security and Medicare tax from a Additional tax on IRAs other qualified retirement plans etc. Attach Form 5329 if required Advance earned income credit payments from Form s W-2 box 9 Household employment taxes. Attach Schedule H Federal income tax withheld from Forms W-2 and 1099 2007 estimated tax payments and amount applied from 2006 return Earned income credit EIC Nontaxable combat pay election 66b Excess social security and tier 1 RRTA tax withheld see page 59 66a...Additional child tax credit. Attach Schedule H Federal income tax withheld from Forms W-2 and 1099 2007 estimated tax payments and amount applied from 2006 return Earned income credit EIC Nontaxable combat pay election 66b Excess social security and tier 1 RRTA tax withheld see page 59 66a Additional child tax credit. Attach Form 8812 Amount paid with request for extension to file see page 59 Payments from a Form 2439 b Form 4136 c Refundable credit for prior year minimum tax from Form 8801...line 27 Add lines 64 65 66a and 67 through 71. Use the IRS label* Otherwise please print or type. L A B E H R IRS Use Only Do not write or staple in this space. 2007 ending Your first name and initial Last name OMB No* 1545-0074 Your social security number If a joint return spouse s first name and initial Spouse s social security number Home address number and street. If you have a P. O. box see page 12. Apt. no. City town or post office state and ZIP code. If you have a foreign address see page...12. You must enter your SSN s above. Checking a box below will not change your tax or refund. Presidential Election Campaign Check here if you or your spouse if filing jointly want 3 to go to this fund see page 12 Spouse You Filing Status Check only one box. Exemptions Single Married filing jointly even if only one had income and full name here. Head of household with qualifying person. See page 13. If the qualifying person is a child but not your dependent enter this child s name here....Qualifying widow er with dependent child see page 14 6a Yourself* If someone can claim you as a dependent do not check box 6a b 4 if qualifying 3 Dependent s 1 First name relationship to you social security number child for child tax credit see page 15 If more than four dependents see page 15. Add numbers on lines above d Total number of exemptions claimed Income Attach Form s W-2 here. Also W-2G and 1099-R if tax was withheld. Wages salaries tips etc* Attach Form s W-2 8a Taxable interest....Attach Schedule B if required 8a 8b b Tax-exempt interest.
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Instructions and Help about IRS 1040
How to edit IRS 1040
How to fill out IRS 1040
Instructions and Help about IRS 1040
How to edit IRS 1040
To edit IRS 1040, ensure you have the correct version of the form downloaded or accessed through pdfFiller. Utilize the edit tools provided by pdfFiller to make necessary changes to your entries. Always check for accuracy after making edits to avoid potential issues with your tax filing.
How to fill out IRS 1040
Filling out IRS 1040 requires gathering your personal and financial information. Begin with your identification details, such as your name and Social Security number. Follow the form’s layout to input income, deductions, and credits accurately. Refer to IRS instructions for specific sections if you encounter uncertainties.
About IRS previous version
What is IRS 1040?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What payments and purchases are reported?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS previous version
What is IRS 1040?
IRS 1040 is the main federal income tax form used by individual taxpayers to report their income and calculate their tax obligations. This form serves as a comprehensive overview of a taxpayer's financial year, detailing sources of income, deductions, and applicable tax credits.
What is the purpose of this form?
The purpose of IRS 1040 is to collect essential information from taxpayers to compute tax liabilities. It allows the IRS to determine whether the taxpayer owes taxes or is entitled to a refund based on reported income and eligible deductions. Proper completion is essential to ensure compliance with the tax laws.
Who needs the form?
Individuals who earn a certain level of income, regardless of age, must file IRS 1040. This requirement includes taxpayers with self-employment income, pension distributions, and investment income. In addition, those who may qualify for certain credits or deductions should also complete this form to claim entitlement.
When am I exempt from filling out this form?
Taxpayers may be exempt from filing IRS 1040 if their income is below the filing threshold set by the IRS for the tax year in question. Additionally, individuals who are below a certain age and dependents on a tax return may also be exempt, provided their income does not exceed specified amounts.
Components of the form
IRS 1040 includes several key components such as personal information, income reporting sections, deductions, tax credits, and signature areas. Taxpayers must carefully complete each section to provide a full financial picture for the tax year. Proper understanding of each component ensures accurate reporting.
Due date
The due date for filing IRS 1040 is typically April 15 of the following tax year. However, if that date falls on a weekend or holiday, the due date may be extended to the next business day. Taxpayers may also file for an extension, allowing extra time to complete their filing.
What payments and purchases are reported?
IRS 1040 requires the reporting of various income types, including wages, salaries, dividends, and self-employment income. Taxpayers must accurately disclose any payments received as interest or from rental properties. Reporting all forms of income ensures compliance and accurate tax calculation.
What information do you need when you file the form?
When filing IRS 1040, required information includes your Social Security number, income statements (W-2s and 1099s), deduction documentation, and any prior tax returns if applicable. Gathering all necessary information beforehand streamlines the filing process and helps avoid errors.
Is the form accompanied by other forms?
IRS 1040 often needs to be accompanied by various additional forms or schedules, such as Schedule A for itemized deductions or Schedule C for business income. Depending on the taxpayer's financial situation, additional schedules will provide the IRS with more detailed information about income sources and deductions.
Where do I send the form?
The destination for submitting IRS 1040 depends on the taxpayer’s location and whether the form is filed electronically or by mail. If filing by mail, refer to the IRS instructions for specific mailing addresses based on your state. e-Filing through services like pdfFiller directs the submission electronically to the IRS.
FAQ about IRS 1040
How can I correct errors on my filed IRS 1040?
To correct errors on your filed IRS 1040, you need to submit an amended return using Form 1040-X. Ensure you provide the necessary information regarding the changes and attach any supporting documents. Submitting an amended return is essential to rectify discrepancies before any potential audits or penalties arise.
What should I do if my IRS 1040 e-filing gets rejected?
If your IRS 1040 e-filing is rejected, review the email notification for specific rejection codes. Common issues include incorrect Social Security Numbers or mismatches with prior returns. Once you fix the identified errors, you can re-submit your e-filing to the IRS.
How long should I retain records related to my IRS 1040?
You should keep records related to your IRS 1040 for at least three years after the due date of the return or the date it was filed, whichever is later. These records may be useful if the IRS audits your return or if there's a need to amend it in the future.
Can I file my IRS 1040 on behalf of someone else?
Yes, you may file an IRS 1040 on behalf of someone else if you have proper authorization, often facilitated through a Power of Attorney (POA) document. Ensure you comply with the IRS regulations related to signatures and submission when acting for another individual.
What happens if I receive an IRS notice after filing my 1040?
If you receive an IRS notice after filing your 1040, carefully read the notice to understand the IRS's concerns. Responding promptly with the required documentation or information is crucial to resolve issues effectively. Keeping records of your correspondence can also be beneficial.
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Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
