ANSWERS: 1
  • Tax return information refers to personal details on your tax return that you send to the government each year. This information is used to calculate the amount of taxes owed for the fiscal year.

    Income

    Income recorded on a tax return is the total amount of money a person makes in a year. The amount of a money you owe the government is based on your total income.

    Employment Details

    A tax return will list a person's employer along with employer's tax identification number. This tax identification number is used to ensure proper taxation of the employer.

    Name And Social Security Number

    A person's full legal name and Social Security number must be present on the tax return. A Social Security number is a nine-digit identification code assigned by the government to people around the time they are born.

    Deductions and Credits

    Your tax return also should include any deductions you are claiming as well as any tax credits for which you are eligible. An example of a deduction is personal business expenses. An example of a tax credit is the government's child tax credit.

    Considerations

    Make sure all of the information you provide on your tax return is accurate. File your taxes on or before the April 15 deadline to avoid fines.

    Source:

    SimpleSubjects: How to Fill Out Form 1040

    FinancialWeb: How To Fill Out Federal Tax Form

    Young Money: Filling Out Tax Forms & Deductions, Deferrals, Credits

    More Information:

    Tax Returns

Copyright 2018, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy