tax return


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Tax Return

A document that individuals and some corporations must file with the tax collection agency each year. The tax return calculates income, deductions, and credits, and ultimately determines how much tax the filer owes for the year. In the United States, Form 1040 is the basic tax return form. See also: 1040EZ.

tax return

a form which must be completed by all taxpayers and potential taxpayers for the INLAND REVENUE, giving details of their INCOME and CAPITAL GAINS and any allowances and reliefs to be set against this income.

tax return

a form that must be completed by all taxpayers and potential taxpayers for the INLAND REVENUE, giving details of their INCOME and CAPITAL GAINS and any allowances and reliefs to be set against this income.
References in periodicals archive ?
7216-2(o), which governs the production of statistical information in connection with tax return preparation services.
A second warrant was executed at the business in April 2002 for evidence of the preparation of tax returns for the tax years 1998 through 2001.
Many taxpayers have come to me because they have not filed their tax returns for a number of years.
The IRS also clarified, in response to a comment, that nontax information cannot be included in a list along with allowed items of tax return information.
All paid tax return preparers must register with the IRS, pay a registration fee and obtain a preparer tax identification number.
Concluding that the purpose of the statutory provision was to put lawyers and accountants on the same footing in rendering tax advice and services and that a lawyer's assistance in preparing a tax return was not legal advice, the court held that the privilege could not apply when an accountant provide the same type of tax advice.
CPAs must annually notify every tax return client about the firm's privacy policy under the Gramm-Leach-Bliley Act.
It seems to me that corporations who appear to be making money and are not filing their tax returns there has to be some way of collecting the taxes that are owed,'' Coupal said.
In June 2009, the IRS initiated a review of tax return preparers with the intent to both increase taxpayer compliance and propose a comprehensive set of recommendations to ensure uniform and high ethical standards of conduct for all tax return preparers.
As part of the tax title of the highway bill, See JCX-27-05, Description of the Chairman's Modification to the Provisions of the "Highway Reauthorization and Excise Tax Simplification Act of 2005" (April 19, 2005), the Senate Finance Committee approved a provision to require company chief executive officers (CEOs) to sign under penalties of perjury a declaration that the company has in place procedures to ensure that the annual federal tax return complies with the provisions of the Internal Revenue Code and that the CEO has received reasonable assurances of the accuracy of all material items in the return.
The cargo isn't thousands of individual tax returns; it's a single, massive form 1120 corporate tax return.
Officials said the grand jury looked into the case after Internal Revenue Service investigators reviewed Gilford's tax return and suspected fraud.