2004 Instructions for Form 1040 (ALL) - Supreme Law Firm

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A Message From the Commissioner Dear Taxpayer, As our nation moves forward in this still young century, the Internal Revenue Service will focus on three areas of tax administration: • Improving taxpayer service; • Enhancing enforcement of the tax law; and • Modernizing the IRS through its people, processes, and technology. Our working equation at the IRS is simple: service plus enforcement equals compliance. Not service or enforcement, but service and enforcement. We must do both in a balanced and consistent manner, with full respect for, and attention to, taxpayer rights. By service, we mean helping people understand their federal tax obligations and facilitating their participation in the tax system. Enforcing the law is equally essential to our system of individual self-assessment. Americans need to be confident that when they pay their taxes, their neighbors and competitors are doing the same. As you prepare your taxes, I encourage you to file electronically. Last year, more than 61 million Americans did. And we expect even more to file electronically this year. E-file benefits both the taxpayer and the government. E-file promotes greater reliability and faster processing. If you’re getting a refund, you’ll get it sooner. To learn more, go online. Check out www.irs.gov and click on “1040 Central” for the tax forms, information, and updates you need. For example, you can find out whether you are eligible for the earned income credit. Also, like more than 23 million people last year, you can check the status of your refund online. Just click on “Where’s My Refund?” I hope this tax booklet is useful to you. For further information, you may contact us at www.irs.gov or call our toll-free numbers 1-800-829-1040 for individuals and 1-800-829-4933 for businesses. Sincerely, Mark W. Everson The IRS Mission Provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. -2-
What is IRS e-file? It’s the fastest, easiest, and most convenient way to file your income tax return electronically. So easy, over 61 million taxpayers preferred e-file over filing a paper income tax return last year. Visit the IRS website at www.irs.gov/efile for all the details and latest information. What are the benefits? Free File Options! ● At least 60 percent of taxpayers are eligible to use free commercial online tax preparation software to e-file. ● Visit www.irs.gov to see if you qualify and to access these free services offered by the tax software industry (not the IRS). Fast! Easy! Convenient! consider it done ● Get your refund in half the time as paper filers do, even faster and safer with direct deposit. See page 54. ● Sign electronically and file a completely paperless return. See page 56. ● Receive an electronic proof of receipt within 48 hours that the IRS received your return. ● If you owe, you can e-file and authorize an electronic funds withdrawal or pay by credit card. If you e-file before April 15, 2005, you can schedule an electronic funds withdrawal from your checking or savings account as late as April 15, 2005. See page 55. ● Prepare and file your federal and state returns together and save time. Accurate! Secure! ● IRS computers quickly and automatically check for errors or other missing information. ● The chance of being audited does not differ whether you e-file or file a paper income tax return. ● Your bank account information is safeguarded along with other tax return information. The IRS does not have access to credit card numbers. Visit the IRS website at www.irs.gov/efile for details. How to e-file? Use an Authorized IRS e-file Provider Many tax professionals electronically file tax returns for their clients. As a taxpayer, you have two options: ● You can prepare your return, take it to an Authorized IRS e-file Provider, and have the provider transmit it electronically to the IRS, or ● You can have a tax professional prepare your return and transmit it for you electronically. Tax professionals can charge a fee for IRS e-file. Fees can vary depending on the professional and the specific services rendered. Use a Personal Computer You can file your income tax return in a fast, easy, convenient way using your personal computer. A computer with a modem or Internet access and tax preparation software are all you need. Best of all, you can e-file from the comfort of your home 24 hours a day, 7 days a week. Visit www.irs.gov for details. IRS approved tax preparation software is available for online use on the Internet, for download from the Internet, and in retail stores. Visit www.irs.gov/efile for details. If you do not qualify for the Free File options, visit our Partners Page for partners that offer other free or low-cost filing options at www.irs.gov/efile. -3-
Page 1: Note. This booklet does not contain
Page 5 and 6: Tax Return Page Reference Questions
Page 7 and 8: Quick and Easy Access to Tax Help a
Page 9 and 10: Topic TeleTax Topics No. Subject No
Page 11 and 12: Before You Fill In Form 1040 See Ho
Page 13 and 14: Chart B—For Children and Other De
Page 15 and 16: Form Item and Box in Which it Shoul
Page 17 and 18: Line 2 December 31, 2004, you were
Page 19 and 20: Form 1040—Lines 7 and 8a less tha
Page 21 and 22: gross income was over $139,500 ($69
Page 23 and 24: Form 1040—Lines 16a and 16b Age (
Page 25 and 26: Form 1040—Lines 20a and 20b Socia
Page 27 and 28: Form 1040—Line 25 IRA Deduction W
Page 29 and 30: Form 1040—Lines 27 Through 29 for
Page 31 and 32: Line 35 Include in the total on lin
Page 33 and 34: Form 1040—Lines 41 and 43 Tax Tab
Page 35 and 36: Line 44 • Tax-exempt interest fro
Page 37 and 38: Line 51—Child Tax Credit What Is
Page 39 and 40: ured the credit. Check box c and en
Page 41 and 42: Lines 65a and 65b— Earned Income
Page 43 and 44: Form 1040—Lines 65a and 65b Conti
Page 45 and 46: Worksheet A—Earned Income Credit
Page 47 and 48: Form 1040—Lines 65a and 65b Works
Page 49 and 50: 2004 Earned Income Credit (EIC) Tab
Page 51 and 52: 2004 Earned Income Credit (EIC) Tab
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2004 Earned Income Credit (EIC) Tab
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number is 20202086. Do not include
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You cannot sign your return are not
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site at www.aarp.org/taxaide or cal
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2004 Tax Table—Continued If line
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If line 42 (taxable income) is— A
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Order Blank for Forms and Publicati
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Disclosure, Privacy Act, and Paperw
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Department of the Treasury Internal
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more than the general sales tax rat
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• You gave gifts of property that
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Instructions for Schedule B, after
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ing the tax year, and you did not m
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also include the amount collected i
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line 36. The amount you can deduct
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Principal Business or Professional
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Partnership Interests vestment. Thi
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If there is an amount in box 1c, se
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sale of your main home if you are n
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follow the applicable instructions
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which you entered the combined tota
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If your rental real estate loss is
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gain results from redemption of the
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• Deducting the prepayment will n
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2001 Capital Gain Tax Worksheet—L
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2002 Tax Rate Schedules—Line 12 S
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2003 Tax Rate Schedules—Line 16 S
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homes, parking lots, warehouses, an
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Index to Instructions A Foreign Tax
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2004 Instructions for Form 1040 (ALL) - Supreme Law Firm

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