How Many Series Of Tax Form Exist For United States?

The government of United States of America has designed a series of tax forms which they require to calculate reports of the total income of the people of U.S and also to derive the tax payments that the citizens of U.S are accountable for.

There are more than 25 series of tax forms and their types, created for different sectors and departments and each have its own purpose. These are differentiated to suit the sector and individual who are paying the taxes and also for the ease of generating reports and calculating taxes.

The IRS form 990 is designed for those organizations which are tax-exempt and other non profit organizations. This form is also knows at the return of organization exempt form and is used to generate annual financial information of such organizations. It also provides the public and government agencies information regarding the financial aspect of an organization so that their tax payments can be calculated.

The 1040 series tax form has been designed for individuals who are tax payers and full time residents of the United States. This series has many of its types, such as 1040 A (for individuals with salary below $1000), 1040EZ, 1040 NR, 1040 NR-EZ and 1040X ( a correction form.

The 1041 series tax form is designed for the use of trusts and estates by the IRS to calculate their tax returns, where as the 1065 series tax forms is designed for partnerships for their tax payments. Series 1068 tax form has been structured in order to report the interest that a tax payer has made on the mortgage, which is usually deductible.

The 1099 series tax form has been structured to report tax returns for income which does not include wages, salaries and tips.