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While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Filling out a tax form is about as much fun as owing taxes to Uncle Sam. The complexity of the task intensifies as your tax life becomes more complicated.
But choose carefully. There are three personal income tax forms — , A and EZ — with each designed to get the appropriate amount of your money to the IRS. If you prefer to fill out your return yourself, you can download a form or form SR from the IRS website. If you are looking for your tax returns from past years, you can request a transcript from the IRS. If you were eligible for a stimulus check also called an economic impact payment but never received it or didn't receive the full amount, you have another chance to get that money by claiming the Recovery Rebate Credit on line 30 of form Page 58 of the instructions for form has a worksheet to help you calculate how much to claim.
Stimulus check money you may have already received is not taxable at the federal level. Learn more about stimulus checks here. Form SR is a new version of form It's for people 65 and older. Read more below about how it works and what's different about it. Here are some quick facts about the SR:.
It's for people who are 65 or older. You can itemize or take the standard deduction. The basic differences between the SR and the regular tax form are cosmetic: the SR has a different color scheme, a larger font and an embedded standard deduction table which may help more people over 65 claim their larger standard deduction.
Asks who you are: The top of form SR gathers basic information about who you are, what tax filing status you're going to use, and how many tax dependents you have. Calculates taxable income: Form SR adds up your income for the year, as well as all the deductions you'd like to claim.
Calculates your tax liability: Near the bottom of form SR, you'll write down how much income tax you're responsible for.
At that point, you get to subtract any tax credits that you might qualify for. You can still take the Earned Income Tax Credit , the Child Tax Credit and any other tax credit you would take if you were using the regular tax form. Next you'll indicate what taxes you've already paid during the year. Determines whether you've already paid some or all of your tax bill: Similar to the regular , the SR helps you calculate whether your tax credits and the taxes you've already paid will cover your tax bill.
If they don't, you may need to pay the rest when you file your tax return. Virtually everybody uses the regular form or the form SR, but there are also three schedules you may or may not have to tack onto it, depending on your tax situation and whether you want to claim certain deductions and credits.
Some people may not have to file any of these schedules. File this if you had any of these click the links to learn more about any of these topics :. Use our convenient drop-off service and let our experts take it from there. Need Live Support? Have questions after using our tax calculator or reviewing your W-4? This link is to make the transition more convenient for you.
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