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The IRS introduced several new forms connected with the Premium tax credit (PTC): Form 8962, the Premium Tax Credit (PTC) must be filed with a 1040 income tax return by individuals who already received advance subsidies through a healthcare exchange. The form was released by the IRS on November 17, 2014, without accompanying instructions. [13]
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.
Taxpayers can e-file free using the IRS Free File service, either using an authorized IRS e-file provider's tax software, if eligible, or by using online Free File Fillable Forms from the Free File Alliance. Prior to 2020, the use of a third party was required for IRS e-file, and it was not possible to e-file directly through the IRS website. [4]
In May, the IRS reported to Congress that it found wide interest in a free IRS tax-filing service and determined the agency was "technically capable" of delivering one. That service is Direct File ...
One of the surveys found that 37% of taxpayers would prefer a free IRS tax-filing option that provides a filled-in return. Only 15% favored an IRS option that required taxpayers to manually add ...
Heads up to anyone who is a freelancer, independent contractor, business owner, property renter or just a hobbyist who occasionally sells their creations: If you accept business-related income ...
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