You have to fill IRS Form 1040EZ for your income tax preparation in South Orlando if you have no dependents to claim and you are filing single or with your partner and your yearly taxable income is less than $100,000.
As it requires no extensive details and only basic information in four major tax sections, the IRS form 1040EZ is the simplest of all the three tax forms.
In order to help you avoid common errors and to make tax preparation in South Orlando easier for you, we will discuss how this form is to be filled.
Your Personal Details
The primary section of the IRS form 1040EZ requires your personal details to be filled. Your personal details would include basic information like your name, address, social security number etc.
In the case of filing tax preparation in South Orlando jointly with your spouse, your spouse’s social security number needs to be there as well. If you enter an inaccurate social security number your form may well end up being declined by the internal revenue service.
Information of Income
The second section requires you to mention your income and its source. Whether it is your salary, wages or tips, they need to be mentioned.
You also need to mention your taxable interest. In order for you to be eligible to file your tax preparation in South Orlando using form 1040EZ your taxable interest should have more than $1,500.
If you are getting any grants be it as the unemployment compensation or the Alaska Permanent Fund dividends you are required to mention it.
The form also asks you if would be tax preparation in South Orlando filing single or jointly to determine allowable standard deduction. From the gross income that was calculated before, the respective allowance will be deducted.
Credits and the Federal Income Tax
The federal income tax that you have already paid through the withholdings held with your employer needs to be mentioned in this section and you would be requiring a W-2 from your employer and income deductions including earned income credit also should be mentioned.
You can look up the amount you owe to the government through the tax table in the instructions.
Once you are done with all the calculation, find out if your taxes exceed your income. If they do then you are eligible to receive a refund after your tax preparation in South Orlando.
In order to receive your refund you will have to fill in your account number and get it delivered straight to your bank account.
Signing your document
The final part you need to consider is signing the document.
You would be required to sign the document before you mail it. In case you are filing jointly with your spouse, your spouse’s signature also needs to be present.
An important thing you must consider doing is to review the document so you can correct any errors that you might have made while entering the information in the form before filing tax preparation in South Orlando and also remember to keep a copy so it might come in handy the following year.
If you need more information about our South Orlando, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt.