IRS Form 1040 U.S. Individual Income Tax Return

IRS Form 1040 U.S. Individual Income Tax Return

What Is IRS Form 1040?

IRS Form 1040, U.S. Individual Income Tax Return, is a common form used by United States taxpayers for submitting an annual income tax return. The form is provided by the Internal Revenue Service (IRS) with the current version used for filing 2023 taxes.

Alternate Names:

  • Form IRS 1040;
  • 1040 Tax Return;
  • Individual Income Tax Return Form.

Detailed IRS Form 1040 instructions can be downloaded through this link. It contains explanations of terms, new rules, tax rates, fines, and penalties. The instruction file also includes the detailed step-by-step guide for filing the form.

Download the latest fillable IRS Form 1040 through the link below. If you decide to not download an electronic version, you can order your form in a paper format. For this purpose, submit an order on the IRS website, and the forms will be mailed to you within 10 business days.

When Is IRS Form 1040 Due?

IRS Form 1040 due date is April 15. If you fail to meet the tax deadline, file IRS Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, before the due date or make an electronic payment by the due date. In this case, you will get an automatic 6-month extension. If you do not file your 1040 Tax Return on time, your penalty will be 5% of the amount due for every month of the late return.

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What Does the New IRS Form 1040 Look Like?

During the last revision, the form was shortened and redesigned. The redesigned version of the IRS 1040 Form includes a number of new schedules:

  1. Schedule 1, Additional Income and Adjustment to Income. Fill out this form to report additional income, like gambling winnings, prize money, capital gains, or unemployment compensation. This schedule also fits to claim deductions, e.g., self-employment tax, educator expenses, or student loan interest deductions.
  2. Schedule 2, Additional Taxes. Use this schedule when you have to make an excess advance premium tax credit repayment or to report the sum you owe for the Alternative Minimum Tax.
  3. Schedule 3, Non-refundable Credits. Attach this schedule to claim a nonrefundable credit, like an education credit, foreign tax credit, or general business credit. Do not use it to claim a child tax credit or a credit for other dependents.
  4. Schedule 4, Other Taxes. Complete this schedule to report other taxes you need to pay (e.g., household employment taxes, self-employment taxes, qualified retirement plans, and tax-favored accounts).
  5. Schedule 5, Other Payments and Refundable Credits. Use it to claim a refundable credit. The refundable credit claimed on this schedule does not include the American opportunity credit, additional child tax credit, and an earned income credit. Besides, you can file this schedule for other payments such as an excess social security tax withheld or the amount paid with an extension to file a request.
  6. Schedule 6, Foreign Address and Third-Party Designee. Fill out this schedule to report your foreign address or third-party designee.

The other federal tax Form 1040 Schedules include the following:

How to Fill Out IRS Form 1040?

To avoid delay, fill out and file your tax return electronically. Use tax software. It will do all the calculations and help you to avoid mistakes. If you fill out the paper version, keep it standard size and make sure all the entries are legible.

Most people need to use only a basic Form 1040. If you need to provide detailed information, fill out the applicable schedule, and submit it with the form. Arrange all the additional forms and schedules in proper order. Pay special attention to the names and Social Security Numbers (SSNs) you enter. They must match the ones indicated on the SSN card. If you are married, enter your spouse's SSN, no matter if you file your 1040 Tax Return jointly or separately.

Carefully double-check the amounts. Some lines of the form may require you to add across instead of down. Do not forget to sign and date your form, as well as to specify your occupation. If you submit a joint return, both you and your spouse must sign the form.


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