Home Add to Favorite Contact Submit  
             28 March, 2024
 

    
Category:  Articles » Finances » Taxes

 

State Tax Returns

Popularity:
         Views: 2054
2007-01-31 22:44:13     
Article by Kristy Annely

Tax returns are forms filed by the Internal Revenue Service (IRS) or the state tax collection agency. These forms contain information on the calculation of 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 1040A with different supplement forms.

Americans who earn more than a specified amount of money are required to file tax returns by law. IRS demands tax returns on the basis of three parameters, which includes filing status, age and income level.

Filing status is based on a person's marital status on the last day of year. This includes single or joint return status. Filing requirements vary according to a taxpayer's filing status. According to the IRS, all those earning a regular income should file a return. However, there are certain rules for the elderly and for children under the age of 14 with an investment income. There are certain income limits for filing the tax return. If a person's gross income is not exceeding that limit then they need not file any tax returns. Employment income, income from self-employment and investment income is all taxable income.

Many Americans file their returns online rather than paying taxes themselves. Many companies offer free or paid services for preparing tax returns. There are many websites that render the services of filing tax returns. These websites display tax tables and tax rate schedules for the current year and also provide downloadable forms and publications. They also provide status reports on tax returns and store records of previous year's tax return to taxpayers.

IRS also has an electronic tax filing process, which has made the tax filing process completely paperless. IRS has implemented two pilot programs to replace handwritten signatures on paper with electronic-enabled numbers. Electronically tax filing enables taxpayers to make direct deposit of taxes to the IRS or using credit card. It also assures that the IRS has received their forms on time and sends them the verification for that.

Specialized in: Tax Returns - Federal Tax Returns - Income Tax Returns - Tax Return Filing Preparations
URL: http://www.taxreturns-web.com
Print article      Bookmark this page
Related Articles 
Purchase Your Car With Unsecured Car Loans And Fair Sum Of Money (Popularity: ): Buying a car, particularly a swanky one needs a hefty amount of money. For most people in UK it becomes difficult, sometimes almost impossible to purchase a car in cash. That is why many car purchasers depend on car financers and car dealers to buy the car of their choice. But research reveals that these people end up paying a large sum of extra money by financing their car through ...
Depreciation - Choosing A Method (Popularity: ): Depreciation is a way you are allowed to deduct the normal wear and tear of business assets (equipment, computer software, automobiles, office furniture, etc). You may claim an item which: you use in your business, wears out over time, AND has a useful life exceeding one year. Because the item is expected to wear out over time (longer than one year), time frames have been assigned to different classes of ...
Understanding Depreciation Conventions (Popularity: ): When choosing to depreciate a business asset, you need to choose both a method and a convention. A convention simply refers to figuring how much of the item basis you may depreciate the first year, based on when during that year you purchased and put the item to use in your business. This article will explain the differences between the half-year convention, the mid-quarter convention, and the mid-month convention.Half-Year Convention ...
Who Loves the Taxman? (Popularity: ): The old saying goes, ‘No one loves the taxman’, but if I must pay taxes, the people at the Inland Revenue Authority of Singapore (IRAS) are the folks I’d rather pay them to.IRAS boasts one of the best programs I have seen for building an energized and dedicated service culture.They have a challenging vision (‘To be the leading tax administration in the world’), clear and appropriate core values and a ...
How Much Will My Tax Deduction Be if I Donate My Car? (Popularity: ): Often one of the first questions a person has when deciding what to do with a car they no longer want is “What will my tax deduction be if I donate it to charity?” When you donate car to charity the amount you can claim on your itemized federal tax return depends on two things; the fair market value of your car and what the charity does with the car.The ...


Related Business 
Colonial Tax Co. (Popularity: ): Offers sales and use tax compliance review service and outsourcing tax returns to assist companies in filing periodic sales and use tax returns.
Uniform Tax (Popularity: ): Paying taxes is our duty but there are certain rebates and returns that you are eligible to receive; to know about them, you should take tax help. We are professionals in self assessment tax returns, tax rebate, uniform tax and CIS rebate.
Tax Relief Systems (Popularity: ): Tax Relief Systems carry large experiance from many years in the field of the tax returns, business payrolls etc. Just by using our dedicetion, passion, knowledge and energy we aim to provide only the best services for our costumers! Our services include: IRS liens, business payrolls, late tax returns, bank levy, state taxes, installment negotiations, audit representation, income trimming, compromise offering, innocent spouse and penalty abatement.
First Class Tax Relief (Popularity: ): First Class Tax Relief is a nationwide fully accredited tax defense firm that helps people who are experiencing federal and state tax liabilties. We represent clients that are dealing with personal tax issues such as unfiled tax returns, IRS collections representation, audits/audit appeal and well as negotiate settlements. We offer clients a free consultation to analyze their tax situation and give them advice on resolving their tax issues.
Tax Agent Berwick (Popularity: ): Tax Agent Berwick- Who is a Tax agent and why would one require his services is what the author explains in this article. A tax agent is someone who helps you out with your tax related work. This could be anything like tax returns, income tax returns, property tax, and many other such tax related issues. Any person who is in the line of business or is earning taxable income, ...
Jackson Hewitt Tax Service (Popularity: ): A full-service, year-round income tax preparation company specializing in fully computerized federal and state tax preparation of individual returns.
eTax Online Tax Returns (Popularity: ): Tax advice, online tax return submission to the ATO, taxtips, free tax calculator and tax help by occupation.
Sales Tax Clearinghouse (Popularity: ): Offering online state sales tax returns.
Orozco Tax Services: Income Tax Preparation (Popularity: ): 23 years of experience in preparing Federal, State and Local income tax returns for individuals and small businesses. Proudly serving Evans Colorado, Greeley Colorado, Loveland Colorado, Fort Collins Colorado, Denver and surrounding areas.
Sales Tax Clearinghouse (Popularity: ): Online state sales tax returns.