Question

The 1040 form is used to collect state tax. local tax. federal tax. sales tax.

Answer 1

The 1040 form is used to collect the federal tax.

Form 1040 is the standard federal income tax form which is used to report an individual's gross income including money, goods, property, and services. If an individual wants to get that form he/she has to call the toll free number of U.S. Individual Income Tax Return office. This form is usually helful in lowering the citizens taxes.

Answer 2

According to the question, the 1040 form is used to collect federal tax

The 1040 form is internal revenue service form that taxpayers used to file annual income tax. On the forms there are sections on the forms that individual taxpayers must fill.

Further Explanation

This section requires taxpayers to reveal their taxable income for the year. The main reason individual declares their taxable income of the year is to determine whether they owned additional taxes or whether such individual will receive tax return.

The 1040 form is filed with the IRS and it falls within April 15 most years. It is the duty of individual who earns income to file this form with the IRS. Some of the information required by the 1040 form from tax filers includes

• Name,
• Address and
• Social security number.

Information regarding individual spouse may also be required as well as the number of dependent. In the form, individual is required for details about full year health insurance. The form also asks individual whether the tax payer wishes to contribute $3 to presidential campaign funds.

On the income sections on the forms, the filers is required to report

• salaries,
• wages,
• pensions,
• social security benefits and
• income types.

1040 form also allow income earners to claim new higher standard deduction.  

LEARN MORE:

• 1040 form brainly.com/question/9524550

KEYWORDS:

• form 1040
• irs
• income earners
• wages
• salaries