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Learn about the forms used by the Internal Revenue Service (IRS) for taxpayers and tax-exempt organizations in the United States. Find out the types, purposes, and history of the forms, such as Form 1040, Schedule A, and Form W-2.
Form 1040 is the main tax form filed by U.S. residents for personal federal income tax returns. It calculates the taxable income and determines the refund or payment due. Learn about the filing requirements, modalities, and history of Form 1040.
Learn about the federal and state income tax systems in the U.S., including sources of law, basic concepts, rates, deductions, and credits. Find out how income is defined, taxed, and reported for individuals, corporations, and other entities.
Learn about the standard deduction, a tax benefit for non-itemizers in the US, based on filing status and age. Find out the amounts, conditions, and examples of the standard deduction for different years.
A tax return is a form that reports income, expenses, tax payments and other relevant information to the tax authorities. Learn about the different types of tax returns, schedules, deductions, credits and refunds in various countries.
SEP-IRA is a retirement account that allows employers to contribute up to 25% of employees' wages or 20% of net profit for self-employed persons. Learn about the eligibility, taxation, contribution limits and withdrawal rules of SEP-IRA.
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related to: schedule 2 tax form 1040 2020taxact.com has been visited by 10K+ users in the past month
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