8 mistakes that can lead to an IRS audit 7:57
(CNN Spanish) --
Form 1040 is the tax document that the Government makes available to taxpayers in the United States to file the annual personal income tax return.
You have until April 18 to submit the form and until April 19 if you live in Maine or Massachusetts.
This form must be filed by US residents who earn money as individuals and, therefore, have to file the annual tax return with the Internal Revenue Service (IRS).
You must fill out the form with your data and this way it is calculated the correct amount of taxes that you need to pay to the IRS, or if, otherwise, the IRS has to refund you.
IRS 2022 Tax Table: How much do I have to pay based on income and filing status?
According to the IRS, Form 1040 must be accompanied by a schedule depending on the case in which the filer is.
Schedule 1: If you have additional income (unemployment benefits, money received from prizes, rewards or winnings from games and bets), deductions to claim (interest paid on student loans, self-employment tax and educator expenses).
Schedule 2: If you owe other taxes (self-employment tax, home employee employment tax, additional tax on IRAs or other qualified retirement plans, and tax-advantaged accounts), the alternative minimum tax (AMT ) or need to make a refund of the advance health insurance premium tax credit).
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Schedule 3: If you have to claim any credit that was not claimed on Form 1040 or 1040-SR (foreign tax credit, education credit, and the general business credit) or if you have other payments (an amount paid with an application for an extension to file or withholding in excess of Social Security tax).
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Steps to follow to obtain and file Form 1040
1. To file Form 1040 you need to enter the IRS portal.
2. Access the PDF of Form 1040 and complete the information requested:
Civil status:
single
Married Filing Jointly
Married Filing Separately (MFS)
Head of Household (HOH)
Qualifying Widow(er) (QW)
Social Security Number
standard deduction
Single and Married Filing Jointly
Taxpayer deceased in 2021
Blindness
Married Filing Separately
Presidential Election Campaign Fund
virtual currency
Refund
Direct deposit?
amount you owe
Authorized third party
Signature
3. File the return
Electronically: Free File puts at your disposal programs (software) of mark free of charge for the electronic presentation e-file free of charge.
The refund will be made within 3 weeks from the date the IRS receives your return, and you can receive it even faster if you choose to have it deposited directly into your checking or savings account.
Via mail: you can check here the mail addresses according to the state in which you reside.
The return can take 6 to 8 weeks.
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