Resident aliens of the United States for tax purposes must generally file if their income crosses a threshold where their taxable income is likely to be positive, but there are many other cases where it may be legally desirable to file. There is also a "dual status alien" for aliens whose status changed during the year.
: 3 While residents of the United States for tax purposes file Form 1040, nonresident aliens must file Form 1040NR or 1040NR-EZ. : 6 An individual is a resident alien of the United States if he or she passes either the Substantial Presence Test or the Green Card Test, although there are also some other cases individuals who have taxable income in the United States but fail the criteria for being resident aliens must file as nonresident aliens for tax purposes. Īn individual is considered a resident of the United States for tax purposes if he or she is a citizen of the United States or a resident alien of the United States for tax purposes. The corresponding main form filed by businesses is Form 1120, also called the U.S. 9.3 Changes to complexity and tax ratesįiling requirements Who must file? įorm 1040 (or a variant thereof) is the main tax form filed by individuals who are deemed residents of the United States for tax purposes.9.1 Original form structure and tax rates.Altogether, 142 million individual income tax returns were filed for the tax year 2018 (filing season 2019), 92% of which were filed electronically. On the right side of the first page is the presidential election campaign fund checkoff, which allows individuals to designate that the federal government give $3 of the tax it receives to the Presidential election campaign fund.
The second page reports income, calculates the allowable deductions and credits, figures the tax due given adjusted income, and applies funds already withheld from wages or estimated payments made towards the tax liability. In particular, the taxpayer specifies his/her filing status on this page. The first page collects information about the taxpayer(s) and dependents. An automatic extension until October 15 to file Form 1040 can be obtained by filing Form 4868.įorm 1040 consists of two pages (23 lines in total) not counting attachments. In those circumstances, the returns are due on the next business day. Income tax returns for individual calendar year taxpayers are due by Tax Day, which is usually April 15 of the next year, except when April 15 falls on a Saturday, Sunday, or a legal holiday. The form calculates the total taxable income of the taxpayer and determines how much is to be paid or refunded by the government.
Individual Income Tax Return") is an IRS tax form used for personal federal income tax returns filed by United States residents.
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