by Victoria Willame

Created on: September 06, 2008   Last Updated: September 16, 2008

Guide to Income Tax Preparation

Filing income tax returns does not have to be difficult. If you have only one W-2 form and have had only one employer, filing the income tax returns can be very easy. To file a 1040 EZ, all the information that you will need is on your W-2. To fill out your income tax returns properly, just transfer the amounts from your records onto the tax form. Read the form carefully to make sure you understand what it requires. Work slowly, starting at line 1. If you run into any trouble or have a question, refer to the instructions, or use the toll-free phone number for the IRS, in the booklet that came with your tax forms. If you did not receive your booklet in the mail, you can pick up forms at your library. If you have more than one W-2 and nothing else, all you have to do is add the two amounts for total income and the same for state and federal taxes. You can fill out many of the forms yourself by following the instructions.

The IRS has a site for online tax preparations. It has all the forms and instructions. Copy and paste this address into the address bar or type in the address bar exactly as shown: http://www.irs.gov/formspubs/ . Other sites have online tax preparations also. Some of these sites will let you print out forms or fill-in and then print, and give you the choice to file electronically. If you decide to file your income tax returns online, this is the address for the IRS Efile. http://www.irs.gov/efile/ If you have more than one W-2 and nothing else, all you have to do is add the two amounts for total income and the same for state and federal taxes. If you have more than one W-2 and nothing else, all you have to do is add the two amounts for total income and the same for state and federal taxes. After you have completed your income tax returns, be sure to make copies of all forms and save them for your personal records.
If you feel you need someone to file your income tax returns for you and choose to go with free income tax preparations, be sure to find out exactly what is included. If you have them done professionally, you will most likely be charged per form. Remember a professional can only fill your forms out correctly if you give them all the information they need.

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