The Act requires preparers who expect to file more than 10 individual tax returns (including Forms 1040
, 1040A, 1040EZ, and 1041) to file them electronically beginning in CY 2011.
In a typical audit the IRS examiners are expected to ask corporate tax departments to assist them in obtaining executives' forms 1040
, so they can be reviewed for consistency with the corporate return.
Further information on the credit can be found in the instruction booklets for Forms 1040
and 1040A, as well as in IRS Publication 596, "Earned Income Credit.
In February 2008, the stimulus program was signed into law, and, as a result, the national level of Forms 1040
, 1040A, and 1040EZ returns increased by an estimated 14.
For each of the selected cases, the IRS is also examining Forms 1040
, for executives, to determine whether that form is consistent with information reported on Form 1120.
Individuals who formerly filed form 8888 to have their refunds sent directly to their bank accounts now need only record their account information on forms 1040
, 1040A or 1040EZ.
Published by the IRS, Publication 970, along with the instruction booklets for forms 1040
and 1040A, include instructions on how the various tax benefits should be applied to an individual tax return.
Total individual returns" are defined as: paper and electronic versions of the major individual income tax returns, Forms 1040
, 1040A, 1040EZ; Form 1040NR, U.
Mindful of this reality, the IRS announced in early 2002, that it would expand its matching of K-1s from partnerships, S corporations and trusts with the Forms 1040
filed by the beneficial owners of these flowthrough entities.
Form 8888 will be included in the tax packages for forms 1040
and 1040A and will also be available by calling the toll-free IRS forms number (800) 829-3676.
At issue are official Forms 1040
filed by approximately 250 persons.
Clients whose forms 1040
show substantial income often have sizable taxable estates to back it up.