Individual Tax Return
Definition of 'Individual Tax Return'The type of tax return filed by an individual. Both single and married taxpayers, with and without dependents, file this type of return. Individual filers always file their returns on a version of Form 1040. Every individual filer who earns a certain amount of income must file this type of tax return. |
|
Investopedia explains 'Individual Tax Return'Individual filers are separate from corporate filers. Corporations use a separate set of tax forms. Individual tax returns are also separate from partnership, gift or estate tax returns, none of which use the Form 1040. |
Related Definitions
Articles Of Interest
-
Tax-Efficient Wealth Transfer
Taxpayers with large taxable estates were required to take steps to reduce them before 2011. -
6 Ways To Lose Your Estate
Find out why you shouldn't put off putting your affairs in order. -
Oil: A Big Investment With Big Tax Breaks
Oil and gas investments can provide unmatched deduction potential for accredited investors. -
Minimize Taxes With Asset Location
Learn how to maximize your investment returns with this tax-minimization strategy. -
Don't Let Inaccurate Tax Forms Get You Audited!
Copying in numbers directly from your tax forms can end up with you paying more (or less) taxes than you owe. -
Which is better for tax deductions, itemization or a standard deduction?
Each deduction that you claim may result in a decrease in the amount of taxes that you owe. However, whether you receive the maximum possible deduction could depend on whether your deduction ... -
Does everyone have to file a federal tax return?
This may come as a surprise to many individuals, but not everyone needs to file a federal tax return. According to the IRS, many individuals who do not need to file tax returns still do, because ... -
When am I not required to submit a social security number on my tax return?
When filing your tax return, you are generally required to include the social security numbers of yourself and the individuals for whom you claim as dependents. However, exceptions do apply. ... -
Canadians: Smart Ways To Use Your Tax Refund
Taxes are an annoying annual chore akin to going to the dentist. Luckily, however, some of us get a nice tax refund after the process. It's important to use this refund wisely though, and Canadians ... -
Has Income Tax Become A Class Tax On The Poor?
With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ...
Free Annual Reports