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Aurora Colorado online IRS 1040-EZ 2024 Form: What You Should Know

Form 1040, U. S. Individual Income Tax Return, is an information return that reports your gross income and deductions from your previous year's income. Form 1040 has three income series: Standard, Additional, and Married Filing Separately. Also included in the 1040 series are estimated amounts for various categories of tax, and tax paid to the Federal Government with respect to nonresident aliens. The standard form contains three sections: Information on gross income. Information on taxes received, unpaid, and collected from nonresident aliens Information on Federal tax payable. Your gross income, after deductions, is your income before any adjustments made for income-related credits, exemptions, and deductions (not shown on this form). Income includes your wages, interest, dividends, rents, and royalties. This is your total income if you had more or less for any taxable year. Also includes income that is exempt from tax. For example, your gross income does not include Social Security benefits unless you paid Social Security taxes on it. If you reported income as a married filing jointly, this is the income your spouse gets. Gross income means taxable income minus exemptions and tax exemptions. You can't lower your tax by taking a deduction for amounts you didn't have to pay. Your tax and payment due date varies depending on what type of return you file. Your due date also depends on the tax rate, filing status, and filing status of your spouse. No interest is allowed for amounts paid before the due date. For instructions, see Publication 550, Tax Withholding and Estimated Tax.

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