Form 1040/US Expat tax return
Form 1040 is the primary personal income tax form used by individuals who must file a federal income tax return with the Internal Revenue Service in the United States (IRS). It is used to report a person’s income, deductions, and credits, as well as to compute the amount of tax owed or refund due.
Form 1040 is a multi-page document that may include several schedules and attachments depending on an individual’s tax situation. Unless an extension has been granted, the form is usually due by April 15th of each year. For the current tax year’s deadlines, please see the article on deadlines.
Tax forms filed with Form 1040
There are several tax forms that are commonly filed along with Form 1040, which is the standard individual income tax return. Some of the most common forms that may be filed with Form 1040 include:
Along with Form 1040, the standard individual income tax return, several tax forms are commonly filed. The following are some of the most common forms that can be filed with Form 1040:
- Form W-2, which reports your wages and salary, as well as any taxes withheld from your pay.
- Form 1099-INT, which reports any interest income you received during the year.
- Form 1099-DIV, which reports any dividends or distributions you received from investments.
- Form 1099-G, which reports any taxable refunds, credits, or offsets you received, such as unemployment benefits or state income tax refunds.
- Form 1099-R, which reports any distributions you received from a retirement plan, such as a 401(k) or IRA.
- Form 1116, also known as the Foreign Tax Credit, is a form used by US taxpayers to claim a credit for taxes paid to a foreign country.
- Form 2555, also known as the Foreign Earned Income Exclusion, is a form used by US taxpayers to claim an exclusion for income earned abroad.
- Form 8938, Statement of Specified Foreign Financial Assets
These forms are used to provide the IRS with information about your income and taxes, so that they can determine your tax liability and ensure that you are paying the correct (low) amount of tax.
Expats Overseas has a large network of CPAs with the necessary qualifications, experience, and cost-effective services. Contact us for a free and no-obligation discussion of your options.
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