Form 1040 Definition

Term Definition
Form 1040 is  standard IRS form that individuals use to file their annual income tax return.  On Form 1040, individuals detail their income for the year for the IRS. This will determine whether an individual’s tax requirements have been fulfilled based income and taxes taken out  throughout the year, or if a refund is due to the individual.  Form 1040 must be submitted to the IRS by April 15th of each year unless an extension has been filed.  Form 1040 may also be called the “long form” or “individual income tax return.”

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