IRS Schedule 3 of Form 1040 – Line-by-Line Instruction
Schedule 3 is included with Form 1040 to report additional credits and payments. Part 1 reports nonrefundable credits while Part II reports other payments and refundable tax credits.
How to Use IRS Form W-4 to Reduce Your Withholding Taxes
The IRS Form W-4 is a withholding certificate completed by an employee and provided to their employer. The employer uses this information to calculate the correct amount of federal withholding taxes that should be deducted from an employee's paycheck.
IRS Form 8453 for Transmittal of Individual Income Tax Return
When an individual or business electronically files their income tax returns, the taxpayer may be required to provide additional information that could not be electronically filed with the return. Those additional materials can be mailed to the IRS using Form 8453.
What is the Definition of Net Pay?
When an employee works for an employer, the employee's take home paycheck is far less from their gross pay. The paycheck is reduced for items such as payroll taxes, income tax withholding, health insurance premiums, and retirement plan contributions. An employee's net pay is an important calculation.
How to Complete IRS Form 4852 for a Substitute Form W-2
U.S. employees receive a Form W-2 at the end of each year which reports their wages, federal income taxes withheld, and payroll taxes withheld. In cases where the Form W-2 is unavailable, a substitute form can be prepared.
How to File IRS Form 4868 Extension Request for Form 1040 Individual Income Tax Return
Individuals must generally file their federal income tax return (IRS Form 1040) on or before April 15th of each tax year. If the individual needs more time, they can file the Form 4868 extension request.
IRS Form 1040 Schedule 3 – Additional Credits and Payments
The IRS Form 1040 Schedule 3 is included with the Form 1040 to report additional credits or payments made during the tax year. This article and video tutorial walkthrough the basics of the Schedule 3.
IRS Form 1040 Schedule 1 – Additional Income and Adjustments to Income
The IRS Form 1040 Schedule 1 is included with the Form 1040 to report additional income and adjustments to income. This article and video tutorial walkthrough the basics of the Schedule 1.
What’s the Difference Between AGI and Taxable Income?
A taxpayer's adjusted gross income (AGI) and taxable income are two different calculations. This article and video tutorial discuss those different calculations and why they are important.
IRS Form 1040-SR vs Form 1040 – What are the Differences?
The Form 1040 and Form 1040-SR may appear to be different individual income tax returns. However, they are similar with the only difference being the size of the fonts.