Federal Tax Return Online

To file Federal Tax Return

After you cross a certain specified amount of income, every American is eligible to pay his or her tax. The IRS is the government agency to which all your federal income tax returns are to be filed. In some cases you may also be needed to file federal tax returns with the state tax agencies. Now with the help of the web, you can either file the returns by mail or a better option now is to do it online. The IRS now offers e-filling instead of the old way of mailing it to the agency.

You can pay Federal Income Tax by:

Employees can pay taxes without getting it cut by the employers.
Self employed people can pay three monthly approximate amount of tax from their income.
People with enough income but non-working can pay three monthly approximate amount of tax.

Tax deductions

While you prepare for federal tax returns you have to know that there are many deductions that you can make from your total amount of income. This can decrease your figure of taxable income. Tax can get deducted due to the following reasons like moving expenses, student loan interest, IRA deduction, job expenses, home mortgage interest to name a few. The credit that you can attain are earned income credit, additional child tax credit, lifetime learning credits, education credits, elderly credit. These are some of the credits and the reductions that are made available to the tax payers. By the Form W-4 the employees are able to give their employers all the information regarding their deductions.


All individuals are to file their yearly tax return in 1040 forms. The 1040 form is the starting form for tax payers filing federal tax return with the Internal Revenue Service agency in the country. There are also some other versions that exist. Tax amounts under US$100,000 are to be paid by using the 1040A and 1040EZ versions. This EZ form is also used to make a note of relationship status or any other adjustments to income. The form 1040 also consists of a number of schedules. Some of them are Schedule A for medical expenses deductions, Schedule D for any of the capital gains, S Corporation income.

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