The 1040EZ is the simplest and easiest tax form, but it lacks some of the advantages of the 1040A or the 1040.

For example, using the 1040EZ, you can’t deduct student loan interest as you can on the other forms.

Here are the IRS requirements for who can file Form 1040EZ:

• Your filing status is either single or married filing jointly.
• Your age is under 65.
• You (or your spouse) was not legally blind during the last tax year.
• You have no dependents
• You have interest income of less than $1,500.
• Your income is less than $100,000

The 1040EZ is definitely the easiest form to file. It will not take long to do and it should be use for only the easiest of tax situations.

However, beware of the dangers of going with a simple tax form if you’ve got a more complicated situation, because you could be leaving money on the table.