|
Tax returns (in the United States) are reports filed with the Internal Revenue Service (IRS) 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. Tax returns are generally prepared using forms prescribed by the IRS or other applicable taxing authority. Seal of the Internal Revenue Service The Internal Revenue Service (IRS) is the United States government agency that collects taxes and enforces the internal revenue laws. ...
A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (for example, tribes, secessionist movements or revolutionary movements). ...
The United States imposes an income tax on the taxable income of individuals, corporations, trusts, decedents estates and certain bankruptcy estates. ...
This article is about the word form meaning a type of document. ...
Federal returns
Under the Internal Revenue Code returns can be classified as either tax returns or information returns, although the term "tax return" is sometimes used to describe both kinds of returns in a broad sense. The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes...
Tax returns, in the more narrow sense, are reports of tax liabilities and payments, often including financial information used to compute the tax.
Information returns are reports used to transmit information about income, receipts or other matters that may affect tax liabilities. For example, Form W-2 and Form 1099 are used to report on the amount of income that an employer, independent contractor, broker, or other payer pays to a taxpayer. A company, employer, or party who has paid income (or, in a few cases, proceeds that may ultimately be determined not to be income) to a taxpayer is required to file the applicable information return directly with the IRS. A copy of the information return is also sent directly to the payee. These procedures enable the IRS to make reasonably sure that taxpayers report income correctly. Form W-2 is used in the United States income tax system to report wages paid to employees and the taxes withheld from them. ...
Form 1099 is a form promulgated by the Internal Revenue Service (IRS) and is used in the United States income tax system to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Social Security Administration Form W-2 is...
Examples Examples of common Federal tax returns (and, where noted, information returns) include:
Transfer taxes
Form 706, U.S. Estate Tax Return;
Form 709, U.S. Gift (and Generation-Skipping Transfer) Tax Return;
Statutory excise taxes
Form 720, Quarterly Federal Excise Tax Return;
Form 2290, Heavy Vehicle Use Tax Return;
Form 5330, Return of Excise Taxes Related to Employee Benefit Plans;
Employment (payroll) taxes
Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return;
Form 941, Employer’s Quarterly Federal Tax Return;
Income taxes
Form 1040, U.S. Individual Income Tax Return; The Form 1040 is the starting form for personal income tax returns filed in the United States. ...
Form 1040A, U.S. Individual Income Tax Return; The 1040A (nicknamed the short form) is a shorter version of the Form 1040 U.S. tax return. ...
Form 1040EZ, Income Tax Return for Single and Joint Filers with No Dependents; It has been suggested that this article or section be merged with Form 2553, Form 2555, Form W-4, Form W-8BEN, Form W-9, Form 1040EZ, Form 1040A, Form 1040X, Form 1040 and IRS Volunteer Income Tax Assistance Program (Discuss) 1040EZ from 2005 The Form 1040EZ, Income Tax Return...
Form 1041, U.S. Income Tax Return for Estates and Trusts (for 1993 and prior years, this was known as “U.S. Fiduciary Income Tax Return”);
Form 1065, U.S. Return of Partnership Income (for 1999 and prior years, this was known as “U.S. Partnership Return of Income”) (information return);
Form 1099 series (various titles) (information return); Form 1099 is a form promulgated by the Internal Revenue Service (IRS) and is used in the United States income tax system to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Social Security Administration Form W-2 is...
Form W-2 (information return); Form W-2 is used in the United States income tax system to report wages paid to employees and the taxes withheld from them. ...
Form 1120, U.S. Corporation Income Tax Return;
Form 1120S, U.S. Income Tax Return for an S Corporation;
The legal obligation to file Federal tax returns in general is imposed under 26 U.S.C. § 6011. The more specific legal obligation to file Federal income tax returns is imposed under 26 U.S.C. § 6012. The United States imposes an income tax on the taxable income of individuals, corporations, trusts, decedents estates and certain bankruptcy estates. ...
The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes...
The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes...
The standard U.S. individual tax return is Form 1040. There are several variations of this form, such as the 1040EZ and the 1040A, as well as many supplemental forms.
U.S. citizens and residents who realize gross income in excess of a specified amount (adjusted annually for inflation) are required by law to file Federal income tax returns (and pay remaining income taxes if applicable).
Gross income includes most kinds of income regardless of whether the income arises from legitimate businesses. Income from the sale of illegal drugs, for example, is taxable. Many criminals, such as Al Capone, are indicted not (or not only) for their non-tax crimes, but for failure to file Federal income tax returns (and pay income taxes) on their ill-gotten gains. “Capone†redirects here. ...
The IRS occasionally has seen "Fifth Amendment" returns from criminals who accurately report their annual income and tax liability but refuse to reveal the source of the funds on the grounds that such a statement would tend to incriminate the individual. The Bill of Rights in the National Archives Amendment V (the Fifth Amendment) of the United States Constitution, which is part of the Bill of Rights, is related to legal procedure. ...
Many Americans find the process of filling out the tax forms more onerous than paying the taxes themselves. Many companies offer free and paid options for reducing the tedious labor involved in preparing one's tax return.
A taxpayer who finds a mistake on a previously filed individual income tax return can file corrections with Form 1040X. The 1040X or the U.S. Amended U.S. Individual Tax Return is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed. ...
See also | 
Feeds |
Contact