IRS Form 1040 Line-by-Line Instructions 2021: How to Prepare Your 1040 in 2021 i want to talk to you now about irs form 1040 line by line instructions how to file the basic income tax form don't go anywhere welcome back folks to another edition of the awesome sweetie q. A show how are you today i hope you are doing fantastic i'm doing marvelous if you are to ask me and, if you are doing as, superb as i am go grab a cup of coffee or tea or vodka in today's conversation i want to, go back to the most basic income tax form 1040. everybody knows that everybody has heard.
About it everybody uses it and during tax season it is very important to provide a very basic easy peasy resource for people who need to taxpayers who needs information about filing taxes. So today's uh today's show i'm gonna give you the key takeaways of today's show the there are four. Key takeaways if you say you don't have time to go all the way to the end of today's show i, want you to remember this everyone uses the same form 1040 except non-resident aliens and form 1040 is short. As just 38 lines but you need to attach additional schedules forms if you have certain types, of income credits or deductions you can file your 2020 taxes between february 12 2020 uh 2021 and april 15. 2021 and the irs outlines the steps to speed refunds during the pandemic and all federal income taxes go to the internal revenue service but. Your state this is very important folks your state may have its own income taxes and forms and irs form 1040 is, the basic income tax form that everybody must use, there are two main exceptions you have the non-resident alien they use 1040 nr and the single followers whose earned income from the year is less than the standard deduction likely don't need to follow. A return and seniors also have the option to file form 1040 sr. And its sr 1040sr is nearly identical to the, standard 1040 but its language is tailored to taxpayers who are 65 years or and older and the 2020 forum 1040 is a two-page form that's greatly simplified from years past because, of the 2017 tax reform however and based on our analysis we found that there are many. Additional forms and schedules that you may need to attach let, me kind of give you very quickly here the key filing season dates there are several important dates taxpayers should keep in mind. For this year's filing season they have january 15th that's where the irs free file opens so taxpayers can begin filing returns for free they can do this through free, filed partners and the tax returns will be transmitted to the irs starting february 12th, and tax software companies also are accepting tax filings in advance january 29th you have the earned income tax credit awareness day to raise, awareness of valuable tax credits available to many people including the option to use prior year income to, qualify february 12 you have the irs begins the. 2021 tax season so individual tax returns begin being accepted and processing begins february 22 22nd the projected date for the iris.gov was my refund tool being updated for those claiming eitc and actc also, referred to as path ads returns and the first. Week of march tax refunds begin reaching those claiming eitc and actc for those who file electronically with direct deposit and there are no issues with their tax returns and the deadline for filing, 2020 tax returns is april 15th and october 15th is the deadline to file for those requesting an extension, on their 2020 tax returns, so um i just want to say that 99 of this tutorial also applies to the 2021 tax season so we have the 2020 tax season and the 2021 tax season if you need more info you., Want to have an idea of the form 1040 you can go and download it right now to you go to the irs website and, www.iris.gov pub iris.pdf1040 we're showing the link on the screen so how to file form, 1040 so as long as you are filing a current income tax return the easiest way.