What is a 941 form used for?

Answer The 941 form is a form used by employers to report wages paid to the Internal Revenue Service. The form is filed periodically and lists wages and taxes withheld. Taxes are withheld from employees,... Read More »

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What is a W-2 form used for?

Employers use Form W-2 to report an employee's wages for the year. Tax services, such as the Internal Revenue Service and state tax departments, use Form W-2 to verify a taxpayer's tax information.... Read More »

What is a 1040 form used for?

The 1040 is a lesser used and more complicated tax form, but may save you more money. However, you generally have to place in the highest income bracket to see any benefits. In addition, people oft... Read More »

What IRS form is used for deductions?

When you claim adjustments to income, you can use either form 1040 or 1040A to claim them. When you claim itemized deductions, you must use Schedule A to report your deductions.References:IRS: Sche... Read More »

What is form 1099 used for?

A 1099 form is a tax document that the Internal Revenue Service requires businesses to file after certain transactions take place. In most cases, the transaction earns revenue or income for the ind... Read More »