Irs Form 13844 Testimonials 2024

Welcome to home! This tax talk is hosted by Lissandra Ever, also known as the Home Biz Tax Lady. The show airs Monday through Friday at around 9:00 AM, where we discuss topics that are relevant to the home business community. Today, we are going to take a quick look at the draft tax forms for the upcoming 2018 filing year. Congress has been talking about a postcard-like tax form, but let me clarify that it is not a postcard where you put a stamp and send it with your personal information. It will be a regular form, similar to filing a paper form by mail. Now, let's dive into the tax forms. Here is the 1040 form, featuring the front and back sides. The front side includes your filing status, name, address, and a space for your signature, while the back side is where you input your income information such as wages and interests. Although it is printed on both sides, it is essentially just a regular sheet of paper. The form has been folded for convenience. In addition to the 1040 form, there are six schedules that accompany it. These schedules are used for specific types of income and adjustments. For example, Schedule 1 covers additional income and adjustments to income. It includes sections for educator expenses, business expenses, health savings accounts, moving expenses for Armed Forces members, and other relevant items. Moving on to Schedule 2, this schedule is used for alternative minimum tax if applicable to your situation. Schedule 3 is for non-refundable credits, such as foreign tax credit, dependent care expenses, residential energy credit, and retirement savings contribution. Next, we have Schedule 4, which covers other taxes. This includes self-employment tax, household employment taxes, and the individual responsibility payment related to the Affordable Care Act. It is worth noting that...