Everything You Need to Know About IRS Form 1040

What is a 1040 Form?
Form 1040 is the primary tax document filed with the IRS. It reports your income, deductions, credits, and tax payments for the year, and determines whether you owe additional taxes or qualify for a refund.

Who needs to file a 1040 Form?
Most U.S. citizens and residents who earn income are required to file Form 1040. This includes employees, self-employed individuals, retirees, and investors.

Why is Form 1040 important?

• It ensures you comply with federal tax law.
• It determines whether you owe additional taxes or are due a refund.
• It provides a full record of your income and tax payments, often required for loans, financial aid, or immigration applications.

What information is included in Form 1040?

• Filing status (single, married, head of household, etc.)
• Personal information (name, SSN, dependents)
• Income (wages, salaries, self-employment, investments)
• Adjustments and deductions
• Tax credits (education, child tax credit, etc.)
• Payments made throughout the year (withholding, estimated taxes)
• Tax owed or refund due

When is the 1040 Form due?

• Standard deadline: April 15 (next business day if it falls on a weekend/holiday).
• Extension deadline: October 15, if you file Form 4868 to request an extension.