Tax Return
Definition of "Tax return"
generic name of the form used to file taxes payable to a federal, state, or local government. The tax return includes items such as gross income, deductions, tax credits, and tax due. Individual taxpayers file on a calendar year basis using Form 1040m which is due 3 1/2 months after the tax year. Corporations prepare Form 1120 on a calendar year or fiscal year basis. It is due 2 1/2 months after the tax year. The partnership tax return is Form 1065.
Popular Real Estate Terms
Clause in an open-ended mortgage permitting the mortgagor to borrow additional sums of money in the future pledging than same real property collateral. A construction loan has a future ...
Name given by the Realtors National Marketing Institute which is affiliated with the National Association of Realtors. ...
Something coming before. Examples are the year before, first lien on property, and previous owner of property. ...
Originally strips of wood approximately 1 to 1 1/2 inch wide, 1/4 to 3/8 inch thick by approximately 4 ft. long which were nailed across the wall studs for the purpose of supporting ...
Agreement in which the contract price to build something is equal to the total costs incurred plus a predetermined profit. The profit may be based on a percentage of cost (e.g., 20% of ...
Contractual provision describing the terms under which coverage may be terminated. An insured or insurer may cancel a policy before its expiration date. Generally, a written notice of ...
In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...
Giving another an immediate benefit. Example are an employee in a real estate company receiving pension or health care benefits after five years of employment, and passing title to ...
Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be filed with the state. When approved, ...
Have a question or comment?
We're here to help.