Can I Still File a 1040EZ Tax Return?
The process for filing a simple tax return has changed. Learn how the current Form 1040 is now designed for taxpayers with straightforward finances.
Many taxpayers with straightforward financial situations once relied on Form 1040-EZ. It was a simplified version of the standard tax form, designed for individuals with basic tax scenarios. This form offered a faster and easier way to file income taxes for those who qualified.
The Discontinuation of Form 1040-EZ
Form 1040-EZ is no longer available for filing federal income taxes. The Internal Revenue Service (IRS) discontinued the form after the 2017 tax year due to the Tax Cuts and Jobs Act of 2017. This law made the previous three versions of the 1040 form obsolete.
The reason for eliminating Form 1040-EZ was to streamline the tax filing process. The IRS moved toward a single, modular Form 1040 that all individual taxpayers would use. This approach uses one primary form that can be supplemented with schedules only when a taxpayer’s situation requires it.
Current Filing Options for Simple Returns
With the elimination of Form 1040-EZ, all individual taxpayers now use the redesigned Form 1040. This form serves as the universal document for personal income tax filing. While the name “1040-EZ” is gone, the principle of a simplified filing for uncomplicated tax situations continues within the structure of the new Form 1040.
The modern Form 1040 is designed to be scalable. For those with simple returns, filing may only require completing the main two-page form without any additional schedules. This approach consolidates the filing process, as taxpayers no longer need to decide between the old 1040, 1040A, or 1040-EZ. An optional version, Form 1040-SR, is also available for seniors and features a larger font.
Determining Your Filing Requirements
A tax situation is considered simple if your income comes from sources like wages, salaries, tips, or unemployment compensation. Most taxpayers with simple returns also use the standard deduction rather than itemizing deductions, which requires filing Schedule A.
Under the current system, all individual taxpayers use Form 1040, which allows for more flexibility than the old 1040-EZ. For example, you can claim dependents to qualify for credits such as the Child Tax Credit. Even with a straightforward return, you can still claim common tax benefits like education credits and the Retirement Savings Contributions Credit if you are eligible. These are handled on the standard Form 1040, sometimes with an additional schedule.