tax return

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.

Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005