Individual Taxes ... virtually made simple!

General Fees: 

1040EZ - $90

1040A - $150 

1040 -$175

State Returns - $50

Package for 1099 contractors or single-member LLCs: $395 (includes state)

Expatriates - $435 (includes state)

Form 1040EZ

Form 1040EZ is only available for filing status of single or married filing jointly, and those who have dependents to claim can't use the form. Taxpayers have to be under age 65 and ineligible for higher standard deductions for the blind.

You can't have more than $100,000 in taxable income, and in general, it can only come from wages, salaries, tips, unemployment compensation and taxable scholarship and fellowship grants. Some taxable interest is allowed, but only if it's less than $1,500 for the year.

The only credit you can claim on the 1040EZ is the Earned Income Credit, and you can't itemize deductions or make any other adjustments to income.

Form 1040A

Form 1040A has some of the same restrictions as 1040EZ. Income has to be less than $100,000, and you still can't itemize deductions. However, heads of household, qualifying widows and widowers, and married people filing separately can use Form 1040A.

Form 1040A allows you to include more types of income. In addition to those allowed on 1040EZ, you can have ordinary dividends, capital gains distributions from mutual funds, pension and annuity income, IRA distributions, and taxable Social Security benefits and still file a 1040A. You can also claim deductions for IRA contributions, student loan interest, tuition and fee payments, and expenses that educators pay for supplies for their own classrooms.

More credits are also available. Credits for child and dependent care expenses, education expenses, and retirement savings contributions can use the form, as can those claiming credits for the elderly or disabled. Both the child tax credit and the additional child tax credit are available to 1040A filers.

Form 1040

If you don't qualify for 1040EZ or 1040A treatment, then your only choice is the long Form 1040. Most notably, that includes taxpayers who want to itemize deductions.  You must also use Form 1040 when:

1.Your taxable income is $100,000 or more
2.You have certain types of income such as unreported tips; dividends on insurance policies that exceed the total of all net premiums you paid for the contract; self-employment earnings; or income received as a partner, a shareholder in an S corporation, or a beneficiary of an estate or trust
3.You itemize deductions or claim certain tax credits or adjustments to income, or
4.You owe household employment taxes

How do you know which tax form I'll need?