What Is A IRS 1040 Form?
The U.S. Individual Income Tax Return is the tax form that all U.S. residents file to report their annual income. The form has various sections where taxpayers provide their income and deductions to find out the amount of tax to be paid or the refund a taxpayer can get. Form 1040 requires a taxpayer to calculate their adjusted gross income and claim deductions based on that income. Form 1040 must be filled out by taxpayers and submitted to the Internal Revenue Service.
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