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Guide to Federal Income Tax

IRS Logo Wikimedia CommonsAlmost everyone dreads April 15th—that date is infamous for the tax filing due date. In this one-stop guide to federal income tax, you’ll learn how to file self-employment taxes and learn the most common types of income tax deductions. What is Phantom tax and should you file a Schedule E, use a 1040 or a 1040EZ?

You no longer have to worry about how to report gains or losses and find out what a K-1 means if you’re part of a corporation. We’ve even got federal income tax tips for the disabled and elderly.

If you are an employer, learn about 941 and 940 employee taxes and what the IRS guidelines are for these types of taxes. If you’re afraid of an IRS audit, you’ll find the answers you need on how to survive an audit in this one-stop guide to federal income tax.

Latest Articles on Federal Income Tax
What Happens To Taxpayers Who Fail to File Income Tax Returns?

When the IRS catches up with delinquent tax filers, the penalties are often harsh. However, many people fail to file tax returns simply because they cannot afford to pay what they owe...

Filing for Capital Gains and Losses on Schedule D of Income Tax Form 1040

The 1040 Schedule D Federal Income Tax Form is used to declare Capital Gains and Losses. Learn whether you are required to file a Schedule D with your tax form 1040 to the Internal...

Filing Schedule F with Federal Tax Form 1040 to Report Income or Losses from Farming

Schedule F of the Federal Income Tax form 1040 is used to report income and losses from farming activities. Learn about how Schedule F is similar to Schedule C which is used to report...

Filing Tax Schedule E for Supplemental Income or Losses

Schedule E of the Federal Income Tax form 1040 is used to figure Supplemental Income and Loss tax liability. Learn who must file Schedule E to the IRS and how it differs from other...

Most Popular Articles on Federal Income Tax
More About Federal Income Tax
The W-4

Filling out any IRS form can be intimidating, however this is a simple form that only takes a few minutes to complete. It comes with instructions and worksheets and is a necessary form...

Common Federal Income Tax Deductions

Don't give the government any more money than they deserve. Make sure you include these common federal income tax deductions....