Description: This public service announcement describes the "celebration" of income tax season, highlighting the choices taxpayers have in filling out their forms. It introduces three different tax forms: Form 1040 for complex income, Form 1040A for simpler incomes up to $10,000 without itemized deductions, and the new Form 1040W for incomes with average itemized deductions. Keywords: Income tax, celebration, taxpayers, forms, 1040, 1040A, 1040W, instruction booklet, punch card, deductions, itemized, average deductions.
Complete Record: This public service announcement describes the "celebration" of income tax season, highlighting the choices taxpayers have in filling out their forms. It introduces three different tax forms: Form 1040 for complex income, Form 1040A for simpler incomes up to $10,000 without itemized deductions, and the new Form 1040W for incomes with average itemized deductions.
Keywords: Income tax, celebration, taxpayers, forms, 1040, 1040A, 1040W, instruction booklet, punch card, deductions, itemized, average deductions.
Transcription
[music] >> Hey, what's all this celebration about? Haven't you heard? It's income tax time again. Yippee! Yeah, well, what's so special about that? This year, we taxpayers have a choice of three forms to fill out. Yippee! Our little drummer is right. Here they are. Form 1040 comes with a full scope instruction booklet. It's used for more complex income reporting. 1040A is the simple punch card form used for incomes up to $10,000 where deductions are not itemized. Here is the new 1040W. This form can be used for any income where average deductions are made by itemizing. Now, back to the parade.