For individual income taxes, the main federal return is Form 1040, which the IRS says is used by U.S. taxpayers to file an annual income tax return. The IRS also says Form 1040-SR is an optional alternative for taxpayers age 65 or older, and Form 1040-NR is used by nonresident alien individuals, estates, and trusts to file a U.S. income tax return.

 

For small business and entity returns, a sole proprietor generally reports business income or loss on Schedule C attached to Form 1040. Partnerships file Form 1065, which the IRS describes as an information return that reports partnership income, gains, losses, deductions, and credits, while the partnership itself generally does not pay income tax. S corporations file Form 1120-S, and C corporations file Form 1120 to report income and figure corporate income tax liability.

 

For trusts and estates, the IRS uses Form 1041, the U.S. Income Tax Return for Estates and Trusts. For transfer taxes, the IRS uses Form 706 for federal estate tax and Form 709 for federal gift and certain generation-skipping transfer tax reporting.

 

There are also employment and payroll returns, such as Form 941 for quarterly federal withholding and Social Security/Medicare taxes and Form 940 for annual FUTA unemployment tax, plus excise tax returns such as Form 720. And when a previously filed individual return needs correction, the IRS uses Form 1040-X as the amended return.