1040EZ Form

What is a '1040EZ Form'

A 1040EZ form is an alternative to the Internal Revenue Service's (IRS) 1040 income tax form and offers a faster and easier way to file taxes, meant for taxpayers with rudimentary tax situations. In order to be eligible to use this form, the individual must have a taxable income of less than $100,000, interest income of $1,500 or less, possess no dependents and fulfill other requirements set by the IRS.

Also known as "income tax return for single and joint filers with no dependents" and unofficially as the "easy form".

BREAKING DOWN '1040EZ Form'

For most individuals, the 1040EZ is the first tax form they will fill out. For example, a young adult with a part-time job will file a tax return at the end of the year. This person will have a straightforward and simple tax situation if she or he has no real estate assets, no tax shelters and no foreign income; only the most basic information is needed to determine whether any money is owed or refunded.

As an individual's taxation situation becomes more complicated by having a child and claiming a dependent, he or she may need to file under the Form 1040A or Form 1040.

To learn more about the tax forms you can choose from when filing your taxes, check out What's the difference between IRS Forms 1040 and 1040EZ?

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RELATED FAQS
  1. What’s the difference between IRS Forms 1040 and 1040EZ?

    Though very similar, the differences between the 1040 and 1040EZ Forms are significant when it comes to filing your tax return. ... Read Answer >>
  2. Can filing taxes with Form 1040EZ cost me money?

    Filing your taxes with Form 1040EZ may simplify the process, but it could also reduce the refund you're eligible to receive. Read Answer >>
  3. Can I use IRS Form 1040EZ to file my tax return?

    IRS Form 1040EZ is the simplest form for filing your taxes, but you must meet certain qualifications to use it. Read Answer >>
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    Two of the forms used for filing individual federal income tax returns are IRS Form 1040A and IRS Form 1040EZ (the third ... Read Answer >>
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