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IRS Form 8949 is used to report capital gains and losses on investments for tax purposes. The form separates short-term capital gains and losses from long-term ones. This form also requires Schedule D and Form 1099-B, which brokerage companies provide to taxpayers. 1040 U.S. Individual Tax Return Form
September 25, 2022 Form 1040 is what individual taxpayers use to file tax returns with the IRS. 1040EZ Form
September 25, 2022 Form 1040EZ was an abridged version of Form 1040 for taxpayers with basic tax situations. Form 1099-B
September 25, 2022 Form 1099-B is sent by brokers to their clients for tax filing purposes. Form 1099-INT
September 25, 2022 Form 1099-INT is the IRS income tax form used by taxpayers to report interest income received. Form 706
September 25, 2022 Form 706 is used by the executor of a deceased person to calculate inheritance tax owed under Chapter 11 of the Internal Revenue Code (IRC) and to calculate Generation Pass Transfer Tax (GSTT) under Chapter 13 of the IRC. . Form 843
September 25, 2022 Form 843 is used to claim a refund of certain assessed taxes or to request a reduction in interest or penalties erroneously applied by the IRS. W-2 Form
September 25, 2022 Form W-2 reflects your earned income and taxes withheld for the previous year, which must be shown on your tax returns. W-4 Form
September 25, 2022 Employees fill out Form W-4 to tell employers how much tax to withhold from their paycheck based on the employee’s marital status, number of benefits and dependents, etc. 1040A Form
September 25, 2022 Form 1040-A was a simplified version of Form 1040 used to file personal income taxes. 501(c)(3) Organizations
September 25, 2022 Section 501(c)(3) is part of the Internal Revenue Code (IRC) and is a special tax category for non-profit organizations. Adjusted Gross Income (AGI)
September 25, 2022 The IRS uses your adjusted gross income (AGI) to determine how much income tax you owe in a year. After-Tax Income
September 25, 2022 After-tax income is gross income less federal, state and withholding taxes. Amended Return
September 25, 2022 An amended return is a form filed to correct a previous year’s tax return. Annualized Income Installment Method
September 25, 2022 Self-employed taxpayers must make quarterly estimated tax payments. Backup Withholding
September 25, 2022 Reserve withholdings are funds set aside for tax purposes on withdrawn investment income. Capital Gains Tax
September 25, 2022 Capital gains tax is payable only after the sale of the investment. Corporation
September 25, 2022 A corporation is a legal entity separate and distinct from its owners. Corporations have many of the same legal rights and obligations as individuals. Custodian
September 25, 2022 A custodian is a bank that holds financial assets in safe custody to minimize the risk of theft or loss. Deadweight Loss Of Taxation
September 25, 2022 Taxation deadweight loss measures the total economic loss caused by a new tax on a product or service. Deferred Tax Asset
September 25, 2022 A deferred tax asset is a balance sheet item that results from an overpayment or advance in taxes. Deferred Tax Liability
September 25, 2022 A deferred tax liability is an obligation to pay taxes in the future. Dependent
September 25, 2022 A dependent is a person who is dependent on someone for financial support and may include children or other relatives. Domicile
September 25, 2022 Residence refers to the place you call home permanently. Earned Income
September 25, 2022 Earned income is any income received from work or self-employment. Electronic Federal Tax Payment System (EFTPS)
September 25, 2022 The Electronic Federal Tax Payment System (EFTPS) is a 24/7 service provided by the US Department of the Treasury that allows taxpayers to make tax payments over the phone or the Internet.