If you are filing your federal taxes for the first time, The IRS recommends electronic filing. You may also qualify for IRS Free File. There is some information you will need to file your taxes.
The IRS says that to complete a tax return with IRS Free File, taxpayers need to gather the following information:
- Social Security number. Taxpayers who don’t have or aren’t eligible for a Social Security number can use an Individual Taxpayer Identification Number.
- Wage and income information. This information is usually on forms from their employer or other payer, such as Form W-2, Wage and Tax Statement and the Form 1099 series.
- Their dependent status. They need to know if another taxpayer, such as a parent, plans to claim them on a separate tax return. If they’re claimed as a dependent on another tax return, they can’t claim themselves as a dependent on their own tax return.
- Documentation for all tax credits and deductions. With the increased standard deduction, itemized deductions may not be necessary. All credits and deductions are subject to IRS verification and review.
- Adjusted gross income (AGI) for the prior year or a self-selected PIN. They need this information to validate and sign an electronic tax return. First time filers over the age of 16 can enter “0” as their prior year income to sign their tax return. Taxpayers who have filed before should use the AGI from their prior year tax return.
- Bank account and routing number. If taxpayers get a refund, they need this information to have their refund direct deposited. This is the fastest and safest way for them to get their money.
