| Tax returns are forms filed by the Internal Revenue | | | | they need not file any tax returns. Employment income, |
| Service (IRS) or the state tax collection agency. These | | | | income from self-employment and investment income |
| forms contain information on the calculation of income | | | | is all taxable income. |
| tax or other taxes. The standard US individual tax | | | | Many Americans file their returns online rather than |
| return is form 1040. There are several variations of this | | | | paying taxes themselves. Many companies offer free |
| form such as the 1040EZ and 1040A with different | | | | or paid services for preparing tax returns. There are |
| supplement forms. | | | | many websites that render the services of filing tax |
| Americans who earn more than a specified amount of | | | | returns. These websites display tax tables and tax |
| money are required to file tax returns by law. IRS | | | | rate schedules for the current year and also provide |
| demands tax returns on the basis of three | | | | downloadable forms and publications. They also |
| parameters, which includes filing status, age and | | | | provide status reports on tax returns and store |
| income level. | | | | records of previous year's tax return to taxpayers. |
| Filing status is based on a person's marital status on | | | | IRS also has an electronic tax filing process, which has |
| the last day of year. This includes single or joint return | | | | made the tax filing process completely paperless. IRS |
| status. Filing requirements vary according to a | | | | has implemented two pilot programs to replace |
| taxpayer's filing status. According to the IRS, all those | | | | handwritten signatures on paper with |
| earning a regular income should file a return. However, | | | | electronic-enabled numbers. Electronically tax filing |
| there are certain rules for the elderly and for children | | | | enables taxpayers to make direct deposit of taxes to |
| under the age of 14 with an investment income. There | | | | the IRS or using credit card. It also assures that the |
| are certain income limits for filing the tax return. If a | | | | IRS has received their forms on time and sends them |
| person's gross income is not exceeding that limit then | | | | the verification for that. |