Solutions to Make Better Decisions with Your Taxes and Money

What is Form 1040?

Find out if you need to file Form 1040.

What is Form 1040A?

Learn about the filing requirements for Form 1040A, including the types of income you can report, from our own TaxAct tax guru.

5 Things You Didn’t Know Were Taxable

When you think of taxable income, the first things that come to mind are most likely wages, including self-employment income, and perhaps capital gains and interest income. As you prepare your taxes, however, you may discover additional types of taxable income that could take you by surprise. Check to see if any of the following […]

Filing Income as a Contractor (Didn’t Get Form 1099-MISC)

In the “You Got This” Weekly Series, we will answer a question from our customers found on Facebook, Twitter, TaxACT’s Blog and around the web. Question: In 2013, I worked for a startup and was paid as a contractor. In 2014, I worked for the same company. They ended up bankrupt and never paid me the final 1.5 months […]

What Are Capital Gains? A Guide to When These Taxes Apply

If you sold something – a house, a car, some stock or even gold or silver coins – you may have a capital gain or loss. When we think of taxable income, most of us primarily think of our earned income, such as wages or self-employment pay. We don’t always include the car we sold […]

Tips for Filing Taxes for the First Time

You can’t fully understand many important things in life until you do them for the first time: riding a bike, getting your first job, and doing your taxes. Filing your income tax return is one of those adult rites of passage that can seem shrouded in mystery until you sit down to file for the […]

How to Know Which IRS Tax Form to File — Form 1040, 1040EZ, or 1040A?

As an individual taxpayer, you can file your tax return with IRS Form 1040, 1040A or 1040EZ, depending on your tax situation. How do you know which form you should use? You can always use Form 1040, regardless of whether you qualify to use Form 1040A or 1040EZ. Forms 1040A and 1040EZ are just simplified, […]

Affordable Care Act Tax Law Changes for Higher Income Taxpayers

Most taxpayers don’t need to worry about the new additional 3.8% tax on net investment income, or the additional 0.9% Medicare tax. These taxes only apply to individuals (and estates and trusts) that have income over certain levels. You generally won’t pay either of these taxes unless you make over $200,000 in one year. If […]

The Difference Between Form 1040, 1040A and 1040EZ

Wanting to know the true differences between the 1040 Federal tax form? These forms are actually much more similar than many people think. The only real difference between the forms is in the amount of information reported. The IRS has a list of items, which if reported on your return, require using either the Form […]

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