File IRS Form 1040 for Federal and State Tax Returns

How W-2 Forms Impact Your Federal Tax Return?

The W-2 tax form shows the amount of taxes withheld from your paycheck for the year and is used to file your federal tax return. Once the employer processes the W2 form, SSA (Social Security Administration) processes it, they then transmit the federal tax information to the IRS. Since the IRS receives a copy of the W-2 from the employer, if the amount reported on the W-2 does not match the amount reported on Form 1040, the IRS may get suspicious. The IRS uses Form W-2 to track an employees tax liability, and the form has come to be seen as a formal proof of income. The employee receives three copies of Form W-2: one for their records, one for the federal tax return, and one for the state tax return.

What do you need to E-file Form 1040 with Tax2efile?

Filing the IRS 1040 Form is mandatory for every U.S. resident, whether they are citizens or not. Only taxpayers with complicated returns are advised to opt for other variants of the forms with various schedules.

• Some of the information every filer must provide includes:
• Information about the filer (or taxpayer) and their status.
• Details include their social security number and dependent information as well.
• Details from their streams of income, including wages, royalties, pension, etc.

The 1040 Form helps taxpayers determine if they owe additional tax or are entitled to a tax refund.