What is a tax return?

A tax return is a document used to report income and file taxes with the Internal Revenue Service (IRS). In Virginia, you must file a tax return if you are required to pay taxes or if you are entitled to a refund. Tax returns are filled out with information about your income and any taxes or deductions you must pay. This can include wages, salaries, tips, self-employment income, investments, unemployment compensation, Social Security benefits, and more. On the form, you will also need to list any deductions or credits that you are eligible for. These can include charitable donations, medical expenses, business expenses, and more. After you have filled out the form, you will need to file it with the IRS. This can be done online or via mail. After you have filed your tax return, you will receive a confirmation and your refund, if applicable.

Related FAQs

What is the tax rate for long-term capital gains?
What is the tax rate for trusts?
How do I know if my tax return was accepted?
Are there any tax advantages for filing a joint return?
What is the tax rate for Social Security benefits?
What are the penalties for not filing taxes?
How do I know if I owe taxes?
What documents do I need to prepare my taxes?
How do I know if I qualify for the Earned Income Tax Credit?
What is the tax rate for capital gains?

What is a tax return?

Related FAQs

Related Blog Posts