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 ?
Others officers of Commerce and Trade group who have had not submitted their income tax returns are serving in Grade 18 at posts of Deputy Directors, First Secretary, Chief Manager, Commercial Secretary, Registrar Copyrights, Section Officer and Manager.
As part of the programme, FBR has contacted over 50 large corporations, financial institutions and companies during the last few weeks to explain to the management of these companies the advantages of filing Income Tax returns by their employees.
The 'due-date' for filing income tax returns and various reports of audit prescribed under the Income-tax Act,1961 has been extended from September 30, 2017 to October 31, 2017 for all taxpayers who were liable to file their Income Tax Returns by September 30, 2017.
The investors would require you to submit your companys income tax returns from the previous years to gain a perspective of your businesss book value and decide on the amount which will be funded.
Does Huw really think the people of South Sudan would be dancing in the streets if their income tax returns went public?
Till 30 July, the number of income tax returns filed online stood at 92 lakh, which is 46.
Under the Article 22 mandate, this preparer is not required to e-file either the 2008 individual personal income tax returns and extensions or the 2008 partnership returns and partnership extensions because she has not filed more than 100 original individual and partnership tax returns in calendar year 2008.
To receive the rebate, the service member must: (i) show at least $3,000 in qualifying income (earned income, combat zone pay, Social Security benefits or Veterans Affairs benefits) on their tax return; (ii) file their 2007 federal income tax return on or before Oct.
Corporations that plan to use a tax professional to prepare their electronic income tax returns should ensure the professionals are IRS-authorized e-file providers.
Individual Income Tax Return, now provides an automatic six-month extension, with no need for a signature or explanation.
The online system is secure and robust and during this past income tax return time it handled four transactions per second, Anfossi says.
The easement donor engages a real estate appraiser to perform the appraisal, which must be prepared no earlier than 60 days prior to the conservation easement donation date, but no later than the due date (including extensions) of the income tax return in which the charitable deduction is first claimed.