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As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
So check your mailbox, your email and your relevant online accounts to ensure you have received all the W2s, 1099s, donation receipts and any other income tax information forms you will need from ...
Common income forms you should expect to gather up include: W-2 forms from employers. 1099 forms for self-employment or miscellaneous income. 1099-K for online sales, if you sold more than $5,000 ...
Some employers could shift the tax savings from the elimination of income taxes into other forms of compensation, such as bonuses or benefits, instead of raising salaries.
Form 1040-X (officially, the "Amended U.S. Individual Tax Return") is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed (note: forms 1040-A and 1040-EZ were discontinued starting with tax year 2018, but a 1040X may still be filed amending one of these tax forms filed for previous years).
The form is used to report payments to independent contractors, rental property income, income from interest and dividends, sales proceeds, and other miscellaneous income recipients to tax professionals. This has led to the phrases "1099 workers" and "the 1099 economy" to refer to those whose income is reported on Form 1099, in contrast to a "W ...
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