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What's Included in the IRS Tax Filing Information Guide

The IRS Tax Filing Information Guide is a free resource that walks through the basics of filing a federal tax return. This guide does not complete your taxes for you—instead, it explains how the tax filing process works and what you need to know before you start.

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According to the Internal Revenue Service, more than 150 million individual tax returns are filed each year in the United States. Many people file on their own using the information available through the IRS website and publications. The guide covers topics like what forms you'll need, what documents to gather, and where to find resources for your specific situation.

The information in the guide addresses common questions people have when preparing taxes, such as understanding the difference between filing as single, married, or head of household. It also explains what tax credits and deductions are, how they work differently, and why they matter on your return. The guide typically includes examples showing how these concepts apply in real situations.

For instance, if you're wondering whether you should file a return at all, the guide provides income thresholds—the minimum amounts you must earn before filing becomes necessary. These thresholds change each year. In 2023, a single person under 65 generally needed to file if their income was $13,850 or more. The guide updates these numbers annually.

Practical Takeaway: Read through the table of contents first to identify sections that match your situation. The guide is organized so you can focus on what's relevant to you rather than reading everything from start to finish.

Understanding Tax Forms and Which Ones You Might Need

The IRS publishes hundreds of tax forms, and knowing which ones apply to your situation is important. The information guide explains the main forms most people use and describes what each one does. The most common form is the 1040, which is the basic individual income tax return form that nearly all taxpayers file.

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The 1040 has two schedules that often come with it: Schedule A (for itemized deductions) and Schedule C (for self-employment income). The guide explains when you might use these schedules. For example, Schedule A is used if you own a home with a mortgage and want to deduct mortgage interest, or if you had significant medical expenses or charitable donations. Schedule C is for people who run their own business or have freelance income.

Other forms mentioned in the guide include:

• W-2 forms, which your employer sends showing wages you earned and taxes withheld
• 1099 forms, which report income from sources other than employment (freelancing, investment income, rental income)
• Form 8863, which relates to education tax credits if you paid for qualified tuition or student loan interest
• Form 2441, which you might use if you paid for childcare while you worked

The guide provides plain-language descriptions of what each form asks for and why. It explains that you don't need to memorize form numbers—instead, you can look up your specific situation (such as "I'm self-employed" or "I have rental property") and find which form applies.

Many people are surprised to learn that some forms are optional. For example, you can choose to itemize deductions on Schedule A, or you can take the standard deduction, which is a set amount the IRS allows. In 2023, the standard deduction was $13,850 for single filers. The guide walks through how to decide which approach might work for your situation.

Practical Takeaway: Before gathering documents, skim the forms section of the guide to identify which forms match your income sources. Write down the form numbers so you know what to look for when you begin preparing your return.

Documents and Records You'll Need to Gather

Successfully filing a tax return starts with gathering the right paperwork. The IRS information guide lists the documents and records you should collect before you sit down to file. Having these organized in one place saves time and prevents the frustration of hunting for information mid-way through your return.

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For wage earners, you'll need your W-2 forms from every employer you worked for during the year. Your employer must send this by January 31st each year. The W-2 shows your total wages, federal income tax withheld, Social Security wages, and Medicare wages. Keep these in a safe place—you'll reference the numbers when filing.

If you received income outside of regular employment, you may get 1099 forms. These include:

• 1099-INT for interest income from banks or investments
• 1099-DIV for dividends from stocks or mutual funds
• 1099-NEC or 1099-MISC for freelance or contract work
• 1099-G for unemployment benefits or state tax refunds

Beyond forms, the guide recommends gathering receipts and records that support your deductions. If you plan to itemize deductions, collect documentation for mortgage interest statements, property tax receipts, charitable donation records, and medical expense receipts. While you don't attach these to your return when you file, the IRS may ask to see them if questions arise about your return.

For those who are self-employed or operate a business, the guide suggests gathering business income records, expense receipts, and mileage logs if you use a vehicle for business. Keeping records throughout the year—rather than scrambling to find them in April—makes tax time much less stressful.

The guide also mentions documents related to major life changes during the year, such as marriage, divorce, or having a child. These events can affect how you file and what you report.

Practical Takeaway: Create a folder (physical or digital) and gather all documents by early February. Check that you received all expected forms from employers and financial institutions. If a form is missing, contact the sender to request it.

Learning About Tax Credits and Deductions

Many people confuse tax credits and deductions, but the information guide clarifies how they work and why the difference matters. Both can lower what you owe, but they work in different ways.

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A deduction reduces your taxable income—the amount of your income that is subject to tax. If your taxable income is lower, your tax bill is lower. For example, in 2023, the standard deduction was $13,850 for single filers and $27,700 for married filing jointly. Everyone can take at least the standard deduction. Some people itemize deductions instead, meaning they add up specific expenses (like mortgage interest, property taxes, or charitable donations) if that total exceeds the standard deduction.

A tax credit, by contrast, directly reduces the amount of tax you owe. If you owe $2,000 in federal income tax and you have a $500 credit, you now owe $1,500. Credits can be more valuable than deductions because they reduce your tax bill dollar-for-dollar rather than reducing your taxable income.

The guide covers commonly available credits, including:

• Earned Income Tax Credit (EITC), which benefits working people with lower to moderate income. In 2023, the maximum credit was $3,995 for those with qualifying children.
• Child Tax Credit, which is $2,000 per child under age 17 for many families, though this depends on income level
• Education credits, including the American Opportunity Credit (up to $2,500 per student) and Lifetime Learning Credit (up to $2,000 per return) for qualified education expenses
• Child and Dependent Care Credit, which helps offset childcare costs while you work

The guide emphasizes that credits have specific rules about who can claim them. For instance, the Child Tax Credit phases out (reduces) at higher income levels. Someone earning $150,000 in 2023 might receive the full credit, while someone earning $250,000 might receive a reduced amount or none. The guide provides income thresholds so you can see whether a credit might apply to you.

Practical Takeaway: Read the section on tax credits carefully. Many people overlook credits they could claim. Identify which credits match your situation