April 15, 2011 is perhaps one of the busiest days of the year in the US, as this day is the deadline for filing 2011 income tax return. As early as now, most people are busy searching for tax calculator, tax tables, e-filing software and the like. Filing for a tax return is a crucial part of being a good citizen, and it is always best to file as early as possible to avoid any inconveniences caused by cramming.
How To File 2011 Income Tax Return
You can download the form that best describes your current situation in earning income. These are available via IRS office, or online. Fill these forms up legibly and correctly, and have them submitted to the IRS as soon as possible. If you are filing for the first time, you may have an estimate done by an expert or a tax preparer.
There are several forms available in filing for 2011 income tax return. The most common and simple ones to fill out are: 1040, 1040A, and 1040EZ.
a. Choose 1040 if: your taxable income ranges from $100,000 higher, you have income from self-employment or sale of property, and have itemized deductions.
b. If your taxable income is below $100,000 and claim tax credits and certain adjustment, as well as capital gain distributions, then use 1040A for filing 2011 income tax return.
c. Lastly, choose form 1040EZ for those individuals who fall under these conditions: with taxable income below $100,000, particularly those with interest income of $1,500 or less and with no children or other dependents, and those with Married Filing Jointly or Single filing status.
Federal and State Income Tax Return
Both of these should be filed on or before April 15, 2011 if your tax year ends on December 31, 2010. Otherwise, count four months from the end of your tax year, and another 15 days.
Federal and state income tax return come together- to be able to file for a state tax return, a copy of the federal 2011 income tax return form would be necessary. State income tax return varies in each state of the country. For more information about filing state income tax return, go to the IRS that is located in the state where you are in.
2011 Tax Tables
| Tax Rate | Single | Married Filing Joint | Married Filing Separate | Head of Household |
|---|---|---|---|---|
| 10% | Up to $8,500 | Up to $17,000 | Up to $8,500 | Up to $12,150 |
| 15% | $8,501 – $34,500 | $17,001 – $69,000 | $8,501 – $34,500 | $12,151 – $46,250 |
| 25% | $34,501 – $83,600 | $69,001 – $139,350 | $34,501 – $69,675 | $46,251 – $119,400 |
| 28% | $83,601 – $174,400 | $139,351 – $212,300 | $69,676 – $106,150 | $119,401 – $193,350 |
| 33% | $174,401 – $379,150 | $212,301 – $379,150 | $106,151 – $189,575 | $193,351 – $379,150 |
| 35% | Over $379,150 | Over $379,150 | Over $189,575 | Over $379,150 |