What is an income tax return?

Answer Different forms of income are taxed at different rates. An income tax return is the form used by the Internal Revenue Service to determine the amount of tax a taxpayer or corporation is responsible... Read More »

Top Q&A For: What is an income tax return

At what income does a minor have to file an income tax return?

As of the 2009 tax year, if a minor has gross income of more than $9,350, she must file income taxes. Gross income is the total amount of taxable income the child earns during the year. If the mino... Read More »

Will a 1040 from my income tax return prove my income?

Most lenders and universities accept a 1040 income tax return as proof of income. However, many lenders require that you submit the income transcript furnished by the Internal Revenue Service, and ... Read More »

How to Calculate Rental Income From Income Tax Return for Mortgage?

Each year taxpayers must to report their rental income on their taxes. Often if a person is trying to obtain a mortgage, he will need to provide the rental income to the lender. The taxpayer can si... Read More »

Income-Tax Return Tips for Low-Income Single Mothers?

Making ends meet as a single parent can be quite a challenge. If you are filing taxes as a single parent, there are a number of special tax credits and exemptions available to make it easier to rai... Read More »