The form 1040ez is the form you can use to file your income taxes if you are single or married filing jointly, BUT have no dependents. You also can't make an annual income over $100,000 or itemize your deductions. With this form you take the standard deduction amount set by the IRS.
There are a few other restrictions along with the three mentioned above that enable you to be able to use this form. Such as:
- The filer must be under the age of 65 and not blind as of 2005.
- The filer can't claim any adjustments to their income using this form.
- The only exception to credits that can be claimed using this form is the Earned Income Tax Credit (EITC).
- You can only use any of the following as taxable income when filing with this form: wages, salaries, tips, taxable scholarships or fellow grants, unemployment compensation, or Alaska Permanent Fund dividends, and the filer's taxable interest doesn't exceed $1,500. Also if the filer receives tips from their job, including allocated tips, and they aren't printed in boxes 5 and 7 on their W-2 form, they cannot use the form 1040ez to file their taxes.
- The filer cannot have received any advanced Earned Income Credit (EIC) payments.