Making the Case for using Form 1040 exclusively

The IRS provides a number of forms for filing income tax returns, (1040A, 1040-EZ and the 1040). While the 1040A and the 1040EZ may be easier to complete and to get the dreaded chore of filing your return off you desk and mind, there are reasons you should use the Form 1040 exclusively.

  • Regardless of how simple or how complicated your return is for a given year every possible situation will be covered by the Form 1040. Form 1040 covers every possible opportunity for adjustments, deductions, and credit. Using this form means you leave no stone unturned or the chance of overlooking an opportunity to save on taxes.
  • You become familiar with the form through repeated use thereby making it quicker for you to complete your return the more years you use it. When you switch forms each year or periodically, you must spend time learning the form and its changes.
  • Selected lines on the Form 1040 may change but essentially, the form is nearly the same from year to year.