What form is commonly used by individuals to file their annual income tax return?

Individuals commonly use Form 1040 to file their annual income tax return because it is the standard form designed by the Internal Revenue Service (IRS) for reporting a variety of types of income, including wages, dividends, capital gains, and other sources. Form 1040 allows taxpayers to detail their income, claim deductions and credits, and determine their tax liability for the year.

This form is comprehensive and includes several schedules that individuals can attach depending on their specific tax situations, such as income from self-employment, itemized deductions, or certain adjustments to income. Its widespread use makes it essential for taxpayers as it accommodates various tax situations and allows for accurate reporting of their financial circumstances to the IRS.

Other options serve different purposes: Form 1099 is used to report various types of income received other than wages, salary, or tips; Form W-2 is a wage and tax statement provided by an employer to employees detailing the amount earned and taxes withheld; and Form 4506 is used to request a copy of a previously filed tax return. Thus, while all these forms are important in the tax process, Form 1040 specifically addresses the needs of individuals filing their annual income tax return.