Tax Return


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Tax Return

The form that the government requires a taxpayer to file with the appropriate official by a designated date to disclose and detail income subject to taxation and eligibility for deductions and exemptions, along with a remittance of the tax due or a claim for a refund of taxes that were overpaid.

The federal and state governments specify the deadlines for filing tax returns without incurring any additional interest or penalties for lateness. For most income taxpayers, the deadline of April 15 of the year following the close of the tax year for which the report is filed applies to both federal and many state returns. For persons who have made taxable gifts, the federal gift tax return is due annually on or before April 15 of the year following the tax year (as opposed to the former requirement of quarterly filing). For executors or administrators of estates that owe estate tax, a federal estate tax return must be filed within nine months of the date of death of the decedent. States may have comparable deadlines for gift and estate tax returns.

Cross-references

Estate and Gift Taxes; Income Tax.

tax return

n. the form to be filed with a taxing authority by a taxpayer which details his/her/their income, expenses, exemptions, deductions, and calculation of taxes which are chargeable to the taxpayer. (See: tax)

References in periodicals archive ?
Based on the sample results, TIGTA estimates the IRS may have issued more than $439 million in potentially erroneous tax refunds claimed on 187,421 amended tax returns during FY 2012.
7216-2(n), as amended, a tax return preparer may compile specified items of taxpayer clients' tax return information without their consent and contact those clients if the preparer is providing tax information and general business or economic information or analysis for educational purposes.
In terms of biggest challenges faced in e-filing the corporate tax return, almost 40 percent of those surveyed said getting comfortable that the e-file included what the corporation intended to be filed, while 35 percent identified compliance software issues.
Wynn, who obtained clients primarily through word-of-mouth, allegedly told clients that they benefited because if they invested in his businesses and the businesses did well, they would get a portion of the profits but if the businesses did poorly, they would receive deductions on their income tax returns.
Taxpayers whose monthly or quarterly Hotel Room Occupancy Tax returns and payments are due in September, October, or November 2001 and who are unable to file on those dates may file and pay any tax due on or before Dec.
If you are a nonfiler, go directly your nearest tax professional and file tax returns with the Internal Revenue Service voluntarily.
Form 941, 941-PR or 941-SS, Employer's Quarterly Federal Tax Return - Prior Tax Quarters - Tax Years 1997 through 2006 *
The final regulations clarify that lists used to solicit tax return business may not be used to solicit non--tax return preparation services.
90 percent of the individuals who commented on education and testing favor minimum education or testing requirements for paid tax return preparers;
Because the lawyer was also an accountant, the taxpayer further retained him to prepare a tax return that was about to become due.
Unless someone has a dire need for a tax return by a specific date, such as before leaving the country, we do not take returns out of the order that they come to us.
If you are legally prohibited from disclosing non-public personal information, this should be stated (an example of such a prohibition is the Internal Revenue Code prohibition on disclosure of income tax return information);