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A tax return is a document that must be filed with the government reporting the amount of income earned by a person. in a particular year. These declarations must be made by:
Personal Tax Return.
Corporative Tax Return
The tax form to file your taxes is the 1040 form that belongs to personal taxes. In relation to companies, there are different forms that must be submitted.
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The Personal Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to people who are required to have a U.S. Taxpayer Identification Number, but who do not have or qualify for a Social Security Number (SSN).
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The W2 form is where employers must report their employees' wage and salary information, in addition to reporting important details such as:
Federal taxes
State taxes
Medicare and more...
The employer issues a W2 for each employee and it must be delivered no later than January 31 of each year so that he can declare his personal income.
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Form 1099-NEC is a tax form designed by the IRS for people who are self-employed and who do not depend on a specific employer. Forms 1099-NEC must be issued to the self-employed by the companies to which they provide services as long as it exceeds $600 in the fiscal year.
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