Tax Return
The form (1040) you file with the IRS each year reporting your income, deductions, and credits to calculate how much tax you owe or get refunded.
Full explanation
Your tax return (Form 1040) is an annual filing with the IRS that reports your total income, claims deductions and credits, and calculates your tax liability. After comparing your total tax to what was already paid (through withholding or estimated payments), you either owe money or get a refund. Due date: April 15 (or next business day). You must file if your gross income exceeds the filing threshold ($16,100 for single filers under 65 in 2026). Even if your income is below the threshold, you should file if you had tax withheld (to get a refund) or are eligible for refundable credits like the EITC.
Source: IRS Publication 17
Ask the AI about this
“How does tax returnaffect my taxes?”Tax education only. Source: IRS Publication 17.