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Auto-Fill Your 1040 from Household Budget

Wouldn’t it be great if our 1040 federal tax form could be auto-filled directly from our household budget? This would save us all time and aggravation, not to mention error.  Thanks to IRS Success, this will be available for the 2022 Tax Year.

 

IRS Success has created an Excel-based Household Budget Template that feeds directly into the 1040.   Here’s how it works:

 

  1. Customers enter dollar amounts in the following fields: Monthly Income and Interest
  2. Customers enter dollar amounts in pre-established monthly expenses categories

[New categories can be added as needed]

  1. Monthly expenses are auto-summed
  2. Monthly balances are auto-summed

The Household Budget is linked to Federal Tax Form 1040 in the same Excel spreadsheet

 

  1. Form 1040 wages, salaries, tips, etc. are auto-generated
  2. Form 1040 taxable interest is auto-generated
  3. Form 1040 other income and taxable amounts are auto-generated
  4. Form 1040 Total Income is auto-summed

Other products coming in 2022 include:

 

  • Schedule A: Itemized Deductions
  • Schedule B: Interest and Ordinary Dividends
  • Schedule C: Profit or Loss from Business
  • Schedule D: Capital Gains and Losses (along with its worksheet)
  • Schedule E: Supplemental Income and Loss
  • Schedule F: Profit or Loss from Farming
  • Schedule SE: Self-Employment Tax

 

All of the worksheets included in the 1040 Excel spreadsheet are password-protected, and all of the formulas are automated and hidden. However, customers can add new worksheets to the file or create links to other spreadsheets.

IRS Success is an online business that sells easy-to-use, digital and downloadable Excel spreadsheets of Federal Tax Forms through our website.  IRS Success offers one-of-a kind products for the easy, secure and accurate completion of tax forms. Unlike online tax filing services, we are risk adverse: we do not require customers to enter personal and confidential information online. Our products are also highly accurate and updated annually to keep abreast of changes to tax laws and forms. Plus, we are highly cost effective: IRS Success pricing is competitive and structured to encourage repeat customers. Prices start at just $4.95. We are successful when our customers are successful. Join the growing number of customers who have found IRS success with us.

 

Disclaimer: IRS Success Excel-based products are meant to facilitate the completion of Federal Tax Forms; they are not replacements.  We are not tax preparers and offer no tax expertise, tax preparation services or tax filing services.   For all tax-related questions, please contact the IRS, a tax accountant or tax attorney.