2006-09-16 14:38:14 · 4 answers · asked by ramdattdasrat 1 in Business & Finance ➔ Taxes ➔ United States
"Tax return" is a term which refers to a document which must be filed with a government body declaring liability for taxation, in a number of countries including the United States. Tax returns in the United States are forms filed with the Internal Revenue Service or with the state or local tax collection agency (California Franchise Tax Board, for example) containing information used to calculate income tax or other taxes.
The standard US individual tax return is Form 1040. There are several variations of this form, such as the 1040EZ and the 1040A, as well as many different supplemental forms.
Americans who earn more than a specified amount are required by law to file tax returns and pay remaining income taxes. Earnings are to be reported whether or not they arise from legitimate businesses - for example, income on sale of illegal drugs is taxable.
2006-09-16 16:17:39 · answer #1 · answered by ? 6 · 0⤊ 0⤋
A tax return is the set of forms you file showing your earnings, deductions, and other tax information and calculations for the previous year, showing how much you owe or get back.
I don't know why it's called a "return".
2006-09-16 14:45:47 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Tax money that you overpaid the government throughout the year, returned to you in the form of a refund after you file your income taxes for that year.
2006-09-16 14:41:01 · answer #3 · answered by retorik75 5 · 0⤊ 0⤋
Sorry. I am an illegal alien, what is it anyways??!!
2006-09-16 14:41:00 · answer #4 · answered by YIA123 2 · 0⤊ 1⤋