Employers are obligated to send out W-2 Forms by January 31st, or the next business day if it falls on the weekend or a public holiday.
But that doesn’t mean you have to receive it by that date. This can be highly frustrating if you just want to file your taxes and get the whole process over and done with.
That’s why services the W-2 Finder were created. You can get an electronic copy free of charge, so that you can get started on your taxes as early as possible.… Read the rest
IRS Form 1040 is the basic tax form many Americans will use. However, it also recently received an overhaul.
The new Form 1040 will now be the size of a postcard with 1040EZ and 1040-A removed from circulation entirely. However, there are a variety of new schedules, so you need to be aware that you don’t need to give less information; they’ve just been moved to other forms.
So, let’s look at where you can find IRS Form 1040 and instructions.… Read the rest
The new Form 1040 is different from the old one. This new draft may seem confusing, but we are going to help you understand it. Here are the five things all Americans should know about the new IRS Form 1040.
The New 1040 Form is the Size of a Postcard
One of the main promises Donald Trump made during the 2016 presidential campaign is he wanted to change the tax code to make it simpler. He said that he wanted the average American to be able to file their taxes on something the size of a postcard.… Read the rest
The W-2 Form is one of the most essential forms in the tax world. It details what you’ve been paid by your employer.
The first point is to remember that the W-2 form is entirely different from your W-4 form. This details any payment that has been withheld as tax by your employer. Any employer that has paid you at least $600 during the tax year must send you a W-2.
Contractors and freelancers will receive 1099s because they don’t have employers; they have clients.… Read the rest
Form 1040A is one of the forms that can be used when filing federal taxes in the US. This form is shorter than the original 1040 form; however, it is more complex than the 1040EZ form. All taxpayers can use form 1040, yet there are restrictions as to which taxpayers can use Form 1040A.
For example, you have to have a taxable income of less than $100,000; you have to take the standard deduction instead of itemizing your deductions.
Filing Status & Exemptions
When preparing this form, you have to list your exemptions and select a filing status before you start reporting your income.… Read the rest