1040A Form

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1040A Form

In the United States, a simplified version of the 1040 Form on which a taxpayer lists his/her income. In order to be eligible to use the 1040A, the taxpayer must not itemize deductions, own a business, or exceed a certain ceiling on income. It is more complex than the 1040EZ Form, but it appeals primarily to new taxpayers who do not have dependents and cannot claim other credits.
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However, lately, revenue agents (RAs) have been frequently requesting Forms 1040 as part of their information document requests.
New IRS compliance initiatives
6012-1(a)(6) prescribes Form 1040 as the form for making the return required of an individual.
Virtually all of the authority for treating a signed Form 1040 as a nullity relies on the fact that the taxpayer refused to provide any information pertaining to his income, or provided de minimis income information and accompanied the purported return with tax-protestor-type arguments.
Form 1040 with all zeroes is not a valid return. (Procedures & Administration)
If the taxpayer subsequently perfects the homemade income tax form with a return properly made on Form 1040, the IRS should accept the Form 1040 as a return filed as of the date the homemade return was filed.
"Homemade" income tax forms may constitute valid returns
Using the 1040 as a protection roadmap -- Different filing statuses such as "Single," "Married Filing Jointly," "Head of a Household" or "Qualifying Widow(er)" all point to potential life insurance needs.
Using the 1040 as a protection roadmap: This benchmark is what can guide decisions on how much life insurance is needed.
Using the 1040 as a protection roadmap: In contrast to the profits from the sale of equities, for example, cash value increases within a life insurance policy or annuity compound on a tax-deferred basis.
Using the 1040 as a protection roadmap: Life insurance can help accomplish a number of financial objectives in this area, including passing a business interest to heirs or associates, or accumulating enough assets to supplement retirement income.
Using the 1040 as a protection roadmap: Clients who wish to enhance their charitable giving might consider donating a life insurance policy and taking a tax deduction in recognition of their generosity.
With the April 16 deadline only weeks away... The Road to Greater Financial Security Can Start With A Drive Through Your Federal Tax Return

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