Individual Tax Return

Categories: Tax

One tax return. Like, for an individual. A single person. Not a corporate filing.

There's an important distinction here, in that an individual return usually carries a standard form, like a W-2, such that the person filling it out has, well, not all that much to do. The total numbers are already written in the doc. Much of the deduction has already been...deduced. And deducted. And the payer simply trues-up the remaining amount owed, or files for a rebate, or rolls in their overpayment into next quarters taxes-owed.

A simple individual return is vastly different from most corporate returns, which carry not only international tax issues (as many have divisions all over the globe), but also have non-standard forms and deduction systems, which require a small army of IRS and Franchise Tax Board people to inspect, audit, and then whine for one reason or another. (How would you like to have to work for the IRS?)

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