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 ?
For tax advice to be a tax return position, it must be reflected somewhere on a tax return (SSTS No.
Specifically, a person will be considered engaged in the business of preparing tax returns if, in the course of the person's business, the person holds himself out to either tax return preparers or taxpayers as a person who prepares tax returns or assists in preparing tax returns.
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.
7216-2(o), which governs the production of statistical information in connection with tax return preparation services.
99 percent of the individuals who provided comments on outreach and communication for paid tax return preparers favor increased efforts.
The Seventh Circuit agreed with the government, holding that (1) the preparation of a tax return is traditional "accounting work" and not the providing of legal advice; (2) communications between a lawyer and a taxpayer relating to the preparation of an as-yet unfiled tax return are not privileged because the lawyer is then functioning as an accountant and not as a lawyer (on the ground that tax return preparation is not "lawyer's work"); (3) communications between the lawyer and the client that touched on matters relating to both the tax return preparation and the ongoing investigation had a "dual purpose," only one of which was privileged; and (4) the non-privileged purpose of the communication contaminated the otherwise privileged nature of the same communication.
A client's tax return information is processed according to uniform handling procedures, so anyone can quickly locate and complete a return.
The regulations apply to those who provide "financial services," as defined by the Federal Reserve Board, which has long included tax planning, tax return preparation and financial planning.
State law requires corporations doing business or deriving income from California to file a state tax return and pay their fair share of taxes.
7216 that govern the circumstances in which tax return preparers can disclose or use certain limited tax return information (T.
TEI President Judith Zelisko urged Congress to reject as unsound a proposal to require company chief executive officers to sign a declaration that the corporate tax return complies with the Internal Revenue Code and that the company has processes in place to ensure the return is accurate in all material respects.