Definition

Noun: A formal document filed with a tax authority (such as the IRS in the United States) that reports an individual's or entity's income, expenses, and other relevant financial information for a specific tax year. It is used to calculate the amount of tax owed or the refund due.

Examples

• Every year, I must complete and submit my tax return by April 15th.
• The accountant prepared the company's annual tax return.
• Filing an accurate tax return is a legal obligation for most citizens.

Advanced Usage

• "To file a tax return": This is the standard verb collocation for the action of submitting the document to the authorities.
  • Self-employed individuals must file a tax return even if their income was low.
• "Tax return deadline": Refers to the final date by which the document must be submitted.
  • The tax return deadline was extended this year due to the pandemic.

Variants and Related Words

• Return (noun): In financial and tax contexts, "return" is often used as a shortened, informal form of "tax return."
  • Have you done your return yet?
• Tax filing (noun): The process or action of submitting a tax return.
  • Online tax filing has become very popular.

Synonyms

• Income tax return: A more specific term, often used interchangeably.
• Tax form: A more general term for any document used in tax reporting, which can include the specific form used for the return (e.g., Form 1040).

Related Phrases

• Tax refund: The money returned to a taxpayer when their total tax payments exceed the calculated tax liability, as determined by the tax return.
  • I'm using my tax refund to pay for a vacation.
• Tax liability: The total amount of tax debt owed by an individual or entity to a taxing authority, as calculated on the tax return.
  • Deductions can significantly reduce your overall tax liability.

Noun

1. document giving the tax collector information about the taxpayer's tax liability
   • his gross income was enough that he had to file a tax return