Income-tax-return meaning

The definition of an income tax return is a document you file with the Internal Revenue Service or the state tax board reporting your income, profits and losses of your business and other deductions as well as details about your tax refund or tax liability.

A 1040 form is an example of a federal income tax return.

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An official document that income tax payers are required to complete to state income amounts, deductions, contributions and related financial information for tax purposes.
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Sentence Examples

  • dividends distributed to all partners are reported on the partners ' personal income tax return.

  • pass-through taxation allows the income or loss generated by the business to be reflected on the personal income tax return of the owners.

  • They are considered income in the hands of the recipient and must be declared on the annual income tax return.

  • The payer and recipient cannot file a joint income tax return for any year where a deduction for alimony payments is being claimed.

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Words near income-tax-return in the Dictionary