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
The real and personal assets of a person at the date of death. The distribution of the assets to the heirs depends on the provision of the will. If no will exists, the distribution is based ...
Cash flow before subtracting income taxes. ...
Proportionate share of an item to total items in the population. ...
Funds that are retained in an account until a certain event occurs. For example, a downpayment on a contract held until full payment is received whereupon the holding funds are credited to ...
Also called demand note. A loan with no established maturity period, callable on demand by the lender for repayment. The interest on this type of loan is calculated on a daily basis and ...
Fence constructed at the property line or other division point separating a subdivision or a home site. It marks the point of separation between two separate properties. ...
Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
The Exclusive Right to Sell Listing is a type of Listing where the Listing Broker/Agent wins his/her commission even if he/she wasn’t directly responsible for the sale.Let’s ...
Null or void something; Revoke or destroy; rescind or set aside; abandon; abolish; repeal; surrender; waive; terminate. In real estate, to void a buy or sell order, price, or quantity. The ...
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