Updated for 2025.
When you file your annual tax return, it’s easy to get overwhelmed by all the forms and schedules out there. To help you cut through the clutter, we’ve rounded up seven of the most common Internal Revenue Service (IRS) tax forms you might need to know this year, and what each one does.
At a glance:
- Form W-2 and various 1099 forms are commonly used to report income.
- Schedules A and C are often filed along with Form 1040, if necessary.
- Tax forms can change yearly, so make sure you’re using the most up-to-date versions.
1. Form 1040, U.S. Individual Tax Return
Form 1040 is the main IRS tax form most Americans use to file their annual tax return. Whether you’re required to file depends on your age, filing status, and gross income.
But even if you don’t owe taxes, you might still need to file Form 1040 to claim a refund or tax credits. You can also use it to itemize deductions and claim a variety of credits and expenses. TaxAct® can help you with all of this when you file using our easy-to-use tax software.
You may remember the old Form 1040-EZ, designed for simple returns, but this form was discontinued after the 2018 tax year. To keep things simple, everyone now uses the standard Form 1040.
2. Form W-4, Employee’s Withholding Allowance Certificate
You don’t file Form W-4 with your annual tax return or send it to the IRS. Instead, this form goes to your employer. It’s important because it tells your employer how much federal income tax to withhold from your paycheck.
The IRS redesigned Form W-4 a few years back to make it easier to match your actual tax liability, but it’s still worth reviewing your form each year to make sure you’re on track. If your personal or financial situation changes (say, you get married, have a baby, or pick up a second job), you should submit a new W-4 to adjust your withholding. If you don’t, you may end up with a lower refund, or perhaps a tax bill you didn’t anticipate.
If you want assistance determining how much tax to withhold from your paycheck depending on your goals, give our W-4 calculator¹ ta try.
3. Form W-2, Wage and Tax Statement
People often mix up Form W-4 and Form W-2, but they serve very different purposes.
Your W-2 comes from your employer at the end of the year. Employers must send W-2s by Jan. 31, so keep an eye on your inbox (or mailbox) around that time. This form shows how much you earned, and how much tax was withheld from your paychecks. Your employer also sends copies to the IRS and Social Security Administration.
You’ll use the information on your W-2 to accurately report your income on Form 1040, but you don’t actually file the W-2 itself.
4. Schedule A to Form 1040, Itemized Deductions
Schedule A lets you itemize your deductions instead of taking the standard deduction. You might benefit from itemizing if your deductible expenses (like mortgage interest, charitable donations, or medical expenses) exceed the standard deduction for your filing status. Strict rules apply for calculating and claiming these deductions, however. Sometimes, you might not be able to deduct the full amount.
You don’t have to fill out every line! Just skip the categories that don’t apply. Once complete, you’ll carry your total deduction to your Form 1040.
TaxAct can help you out with deciding whether or not to itemize. We’ll compare your itemized deductions to the standard deduction automatically and choose whichever saves you more money.
5. Form 1099-INT, Interest Income
You might receive a Form 1099-INT from banks or other financial institutions if they paid you a certain amount of interest on your deposits. The amounts reported here typically count as taxable income, no matter how small!
If your total taxable interest is over $1,500, you’ll also complete Schedule B to list each payer and amount received. Don’t worry — TaxAct can help walk you through all of this.
6. Schedule C to Form 1040, Profit or Loss From Business (Sole Proprietorship)
If you’re self-employed or run a small side gig, Schedule C is your go-to form for reporting your business income and expenses.
Deductible expenses can include:
- Business travel
- Office supplies
- Insurance premiums
- Advertising and marketing
- Wages and contractor payments
TaxAct will help guide you through possible business deductions so you can keep more of what you earn. Plus, we’ll handle all the necessary forms automatically.
7. Form 1099-NEC, Nonemployee Compensation
Independent contractors, freelancers, and gig workers usually receive Form 1099-NEC from each client that pays them over a certain amount throughout the year. This form reports your total earnings, which you’ll then report as income on your tax return. Similar to how a traditional employee would use Form W-2 to report their wages.
Before 2020, non-employee compensation was reported to self-employed taxpayers on Form 1099-MISC. This form is still around but is no longer used to report non-employee pay. Instead, Form 1099-MISC is used as a catch-all for other types of miscellaneous income, such as rents, prizes, awards, medical and health payments, and even fishing boat proceeds.
First time having self-employment income? TaxAct makes it easy to DIY your taxes as a freelancer and gig worker. Let us walk you through it!
The bottom line
No matter which forms you must file, always make sure you use the correct tax year versions, as the IRS can update forms yearly. Also, remember that your personal situation may change, and you might need to file more or fewer forms each year, depending on your situation.
Thankfully, TaxAct is here to make the tax filing process as painless as possible. If you file with us, we’ll take you through a Q&A, pull any necessary tax forms, and fill out the forms for you based on your answers and current tax situation.
1W-4 Calculator (Refund Booster) may not work for everyone or in all circumstances and by itself doesn’t constitute legal or tax advice. Your personal tax situation may vary.
This article is for informational purposes only and not legal or financial advice.
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