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hey everyone now that we have a basic understanding of taxes we're actually going to file our taxes so the first thing we're going to need to do is go to irs.gov it's a website right up here okay and we're going to look at forms and publications and we're going to click on the 1040ez we're going to use the 1040 EZ form because it's easier to fill out and it's less time-consuming than the other forms ok the 1040 a and the 1040 so I'm going to walk you through step by step filling out the 1040 EZ for Jose deke huevos okay so we're going to use this w2 and the following information to fill out the 1040 ez tax form okay Jose deke huevos is single and wants to contribute to the presidential campaign fund okay he has a hundred and fifty dollars in taxable interest income from a savings account and cannot be claimed by anyone else Jose is an accountant and his phone number is two oh one five five five five five five five here is Jose's 1040 EZ form I have already filled up information at the top this is the personal information that the tax form is going to ask you for it's going to ask you for name address and your social security number and whether or not you want to contribute to the presidential campaign fund I've already filled this information in because we're more interested in the actual dollar amounts and how the rest of the form works okay so now we're going to look at number one and number one states wages salaries and tips and this should be shown in box one of your w-2 so we need to take a look at our w-2 form so if we take a look at our w-2 form okay in box one it's as wages tips and other compensation so we have thirty six thousand twenty four dollars so we're going to place this in line one of our 1040 ez we're going to put thirty six thousand twenty four dollars okay and zero cents taxable interest is number two okay you can see if this total is over $1,500 you cannot use form 1040ez but we know from our information that we saw before okay that Jose has one hundred and fifty dollars in taxable interest income from a savings account so he's under that fifteen hundred dollar limit so on line two we're going to put one hundred and fifty dollars and zero cents this takes us to line three unemployment compensation and Alaska Permanent Fund dividends he doesn't live in Alaska and he didn't say anything about unemployment so line three is going to be zero for line four we are going to add lines one two and three this is the adjusted gross income when we add the lines up we get thirty six thousand one hundred and seventy four dollars and zero cents this takes us to line five if someone can claim you as a dependent you are going to check the applicable boxes and enter the amount on the worksheet on the back but no one can claim Jose so we are going to skip down below the boxes and it says is no one complain you or your spouse if it's a joint return enter ten thousand of single and twenty thousand if married filing jointly Jose is single so we are going to enter ten thousand dollars on line five now we are going on to line 6 which says subtract line five from line four if line five is larger than line four enter zero this is your taxable income so we need to take a look at which one is bigger line four is larger than line five so that means we are going to subtract and we get twenty-six thousand one hundred and seventy for number seven federal income tax withheld from forms w2 and 1099 doesn't have a 1099 but he does have a w-2 so we're going to flip back to his form w2 okay and we're going to look at box to where it says federal income tax withheld and it tells us three thousand six hundred and two dollars and forty cents was withheld so now we're going to flip back to our form 1040ez and on line seven we're going to put thirty six oh two and forty cents line eight is split into Part A and Part B Part A is Earned Income Credit and Part B is non-taxable combat pay Jose does not have either of these so we are going to enter 0 for both line 9 tells us to add line 7 and 8 a so we enter three thousand six hundred and two dollars and forty cents these are the total payments and credits moving on to line ten that is the tax you're going to use the amount on line six above to find your tax in the tax table in the instructions and then enter the tax from the table on this line flip over to our tax table which can be found in the instructions the amount on line six was twenty-six thousand one hundred and seventy four dollars so that is the amount we're going to find but first I want to explain how this works first we have at least and then we have but less than so if your adjusted gross income is at least this number but less than this number it's going to show you your tax if you're single married filing jointly married filing separately or head of household so we're going to have to look for the range that Jose's adjusted gross income folds into we're going to scroll down through a lot because we need to get to the twenty-six thousand dollar range so here it is so now let's try and find the range Jose is going to fall between the twenty-six thousand one hundred and fifty and the twenty-six thousand two hundred dollar range and he singl so his tax is going to be three thousand four hundred and ninety one dollars this is the amount that we're going to put on our 1040ez on line ten so that's where we're going to enter three thousand four hundred and ninety $1.00 now we're on to the refund or the amount that you owe you will only fill out one of line eleven or twelve because you can't get a refund and owe money so we need to look at both of them if line nine is larger than line ten that means that we're getting a refund if line 10 is larger than line 9 then we owe the government money so when we look at lines nine and ten we see that line nine is larger so Jose is getting a refund when we do the subtraction of our numbers we find that Jose is getting a refund of one hundred and eleven dollars and forty cents so we are going to enter that on line eleven a so now most of the form is filled out so you're able to enter a routing number and then account number for even a checking or a savings account and then your refunds going to get directly deposited into your bank account the next section on this form is for third party designates if this means that you're going to allow another person to discuss your tax return with the IRS if you want someone else to be able to speak with the IRS then you're going to check yes and you're going to fill out this section most likely you're never going to check yes for this because you're going to want to talk to the IRS yourself now you're going to provide your signature okay the date and your occupation and we had said that Jose was an accountant so we're going to put in an accountant and we also know his daytime phone number right so it's two oh one five five five five five five five okay so that's basically it if you paid someone to fill out this form okay then they're going to fill out the paper parer section but you should not be paying anyone to fill out the 1040 EZ for you because now you can do it for yourself that's it just remember to bring your notes to class