Each year we receive or fill out lots of tax forms, and each of these forms has a specific purpose.
Below, I’ll outline and highlight some of the most common forms. You can find more detailed information by clicking on the form’s name.
The most important of them all, the Form 1040 is the basic form on which you file your personal income taxes. There are many additional forms which you use to calculate specific items to put on specific lines on the main Form 1040, but you can’t file your taxes without this form. It comes in multiple flavors such as 1040EZ, 1040A, and 1040X. There are also more than a dozen Schedules (different parts to the Form), each to help you calculate the tax impact of different activities.