joint return

Thân thiện

A married couple files a joint return with their tax documents.

Definition

Noun: A single tax return document filed by a married couple, reporting their combined income, deductions, and credits. It is a formal submission to a tax authority, such as the IRS in the United States, where both spouses share responsibility for the information and tax liability.

Usage

A "joint return" is used specifically in the context of taxation for married couples. It allows them to combine their financial information on one form. Filing a joint return often results in different tax rates, benefits, and liabilities compared to filing separately.

Examples

Advanced Usage

• Legal Responsibility: On a joint return, both spouses are generally held "jointly and severally liable" for the full tax debt, meaning the tax authority can seek the entire amount from either spouse.
• Eligibility: To file a joint return, a couple must be legally married as of the last day of the tax year (December 31st in the U.S.). Some states with community property laws have specific rules affecting income reporting on a joint return.

Variants and Related Words

• Separate Return (n): A tax return filed by a married individual reporting only their own income, deductions, and credits, separate from their spouse.
• Married Filing Jointly (n phrase): The official filing status for a couple submitting a joint return.
• Tax Return (n): The general document used to report income and calculate taxes owed.

Synonyms

• Combined tax return (informal)
• Married couple's tax filing

Related Phrases

• To file jointly: The action of submitting a joint return.
  • They chose to file jointly this year.

Học thuật

Noun

1. a return filed by a husband and wife