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"Millions of Americans can do taxes online for free once you know how to go about it."
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1040 File
The multitude of available tax forms seems to get more numerous every day and deciding which form you should file can be a difficult task. What do you need to qualify for a 1040 file form? What about a 1040 EZ form? The answers are fairly simple.You may use the 1040 file for any filing status, whether you have dependents or not and under any income situation. With the 1040 file you may also take any necessary deductions, standard or itemized, and you can use any applicable adjustments. There is no limit on the amount of taxable income and all credits are allowed. The 1040 file is the most flexible to use and it covers nearly all filing statuses.
The 1040 EZ file is quicker, with less paperwork, but there are more restrictions on who qualifies for it and how one might file it. You would use a 1040 EZ file if your filing status were single, married, or filing jointly. No itemized deductions are allowed and you may only take the standard deduction. You may also use the 1040EZ file if you and your spouse are under age 65, not considered legally blind at the end of the year, and your taxable income is less than $100,000. You would also use the 1040 EZ file if you do not claim any dependents. If you had only wages, salaries and tips, taxable scholarship or fellowship grants, or unemployment compensation and your taxable interest was not over $1,500, then you could still use the 1040 EZ file.
