| If you look in the website of Internal Revenue | | | | office. 1099 MISC forms are used by self |
| Service for the tax forms to file returns you will | | | | employed personnel especially sole proprietors to |
| get a list of around 200 forms. Finding the right | | | | report the income from the services extended to |
| form to file the tax is really confusing. Each form | | | | other business. The other business sends you this |
| is used for specific purposes. All of them are not | | | | form and another to IRS. Form 1099 MISC and |
| used frequently. Some of the most commonly | | | | W2 are received by IRS from the source also. |
| used forms are 1040EZ, 1040A, 1040X, 8829, | | | | This income has to be entered in the Schedule C |
| 1099MISC, W4 and 4868. | | | | of your tax return. If the amount in schedule C |
| Form 1040EZ is the easiest form to fill. Individual | | | | and 1099MISC doesn't tally, you will have to |
| taxpayers, single or the married ones who are | | | | explain to IRS. If you haven't entered the income |
| filing joint returns, can use this form if you are | | | | in schedule C while filing the return, 1099MISC |
| under 65 years of age and if your income is not | | | | should be send along with 1040X. If this is filed |
| complicated. They should not have any | | | | after the deadline, penalty will be imposed. |
| dependents. The annual income should not be | | | | If you find that it is not be possible to file the tax |
| more than $100,000. This form doesn't have any | | | | return before the 15th of April, which is the |
| deductions. If you want any itemized deductions | | | | deadline to file tax returns, you could request for |
| 1040A has to be used. 1040A could be used if | | | | an extension of deadline. The form used for this |
| you have received benefits for dependent care. | | | | purpose is tax form 4868. The extension is only |
| 1040X is used to adjust and make changes in the | | | | for filing the returns and not for the tax. Interests |
| returns that have already been submitted to IRS. | | | | and penalties for late payment of taxes will be |
| Form 8829 is used if you use part of your home | | | | incurred even if the deadline to file returns is |
| as office. From your business income you could | | | | extended. |
| deduct home expenses like utilities, taxes, | | | | Choosing the right document will make your tax |
| insurance etc. To make you eligible for this | | | | filing a bit easier. |
| deduction, your home must be regularly used as | | | | |