Individual Tax Return

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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.

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  4. What are some of the arguments in favor of a value-added tax (VAT)?

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  5. How is compound interest taxed?

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