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Short Form Return of Organization Exempt From Income Tax Form 990EZ O MB No 15451150 2015 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) Do not
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How to fill out short form return of
01
Determine your eligibility: Before filling out the short form return of, you need to determine if you are eligible to file using this form. Generally, individuals with simple tax situations and lower income levels may qualify for this form.
02
Gather necessary documents: Collect all the required documents before starting the filling process. This may include your W-2 forms, 1099 forms, and any other relevant income and deduction records.
03
Identify your filing status: Determine your filing status, such as single, married filing jointly, married filing separately, or head of household. This will impact the tax rates and deductions applicable to you.
04
Fill in personal information: Provide accurate personal information such as your name, Social Security number, and address. Make sure to double-check all the information you enter to avoid any errors.
05
Report your income: Enter the details of your income, including wages, tips, self-employment earnings, and any other sources of income. Ensure that you report all income accurately to avoid any potential issues with the IRS.
06
Claim your deductions: Determine the deductions you are eligible for and include them in the appropriate sections of the form. These deductions may include student loan interest, educator expenses, self-employment expenses, and others.
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Calculate your taxes: The short form return of will guide you in calculating your taxes based on the information you provided. It will determine your tax liability or any refund you may be entitled to.
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Review and sign the form: Take the time to review all the information you have entered before signing the form. Double-check for any errors or omissions that may affect the accuracy of your return.
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Submit the form: After reviewing, sign the form and send it to the appropriate tax authority. Follow the instructions provided on where and how to submit your form, whether through mail or electronically.
Who needs the short form return of? The short form return of is suitable for individuals with relatively simple tax situations and lower income levels. If you do not have many deductions, investments, or dependents, this form may be sufficient to handle your tax filing requirements. However, it is always recommended to consult with a tax professional or use tax software to determine the most appropriate form for your specific circumstances.
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