Federal Direct has been providing income tax preparation services and income tax training for the past 16 years, and toward the latter half of those years we have been expanding our business through partnering with offices like yours. Federal Direct started into the tax preparation business by adding income tax preparation services into existing financial service centers in Indianapolis, IN. After several years, the success and profitability of income tax preparation as an add-on business line for those operating in the financial services industry could not be ignored.

IRS Tax Form 1040 (U.S. Individual Income Tax Return) Form 1040 is the standard federal income tax form used to report an individual's gross income (e.g., money, goods, property, and services). It is also known as “the long form” because it is more extensive than the shorter 1040A and 1040EZ Tax Forms.

The 1040 Form is generally due by April 15th, unless you apply for an automatic tax extension. If you do not file by this date, you will be subject to penalties and/or late fees. You can request a tax extension by submitting IRS Tax Form 4868 by the original filing deadline (April 15).

The income tax laws of the District of Columbia, Maryland, and Virginia (referred to as the tri-state area) in some ways parallel and in some ways diverge from Federal laws. You may wish to consult the instruction booklets for the state returns that apply to you and contact state taxpayer assistance help lines for more detailed information. This section will provide a general overview of state taxes.

In general, international students whose income exceeds the allowable standard deduction and exemptions for their state of residence may be required to file a state income tax return. Specific information relating to state taxation in our tri-state area is provided below.