Tax season is upon us, and for many Americans that means it’s time to get their income and expense records in order. Filing your taxes can seem like a daunting task, but it doesn’t have to be.
Form 1040 is used by individuals to file their federal income tax returns. The form helps taxpayers claim deductions, and determine their tax liability to the IRS.
Who Needs to File Form 1040?
Even if you do not otherwise have to file a return, you should file one to get a refund of any federal income tax withheld.
You should also file if you are eligible for any of the following credits:
- Earned income credit.
- Additional child tax credit.
- American opportunity credit.
- Credit for federal tax on fuels.
- Premium tax credit.
- Credits for sick and family leave
Use the Chart Descriptions below to see if you must file a return.