The three forms you can use for filing your individual federal income tax returns are Form 1040EZ (10-40-E-Z), 1040A (10-40-A), and 1040 (10-40). Form 1040EZ is the simplest form to fill out, but you must meet certain conditions to use it. Generally, taxpayers that satisfy certain income limits and aren't itemizing any deductions or claiming tax credits and adjustments to income can select this form. A slightly more complicated version of the 1040EZis the 1040A form. You still aren't allowed to itemize deductions using this form, but you can claim a few adjustments to income such as IRA (I-R-A) contributions and student loan interest deductions in addition to several tax credits. Out of the three, the longest and most complex form is the 1040. If your tax situation is at all complicated and you want to itemize deductions, list several adjustments to income, or claim tax credits, this form should be chosen as it allows you to report the greatest number of tax deductions. For more information on selecting tax forms, please consult a tax advisor or call the toll-free number for Federal Tax Information and Assistance at 1-800-829-1040.
