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Annual personal income tax for
income generated in 2016
Tax Alert
January 2017Tax residents in Serbia report their world income, while persons who are not
residents in Serbia report their income earned
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How to fill out annual personal income tax
How to fill out annual personal income tax
01
Gather all necessary documents such as W-2 forms, 1099 forms, and any other relevant financial records.
02
Determine your filing status (single, married filing jointly, married filing separately, etc.).
03
Calculate your total annual income, including wages, salaries, tips, and any other sources of income.
04
Deduct any eligible expenses or deductions, such as student loan interest, mortgage interest, and self-employment expenses.
05
Determine if you qualify for any tax credits or deductions, such as the Earned Income Tax Credit or the Child Tax Credit.
06
Complete the appropriate tax forms, such as Form 1040 or Form 1040EZ, using the information gathered and calculated.
07
Double-check all entered information for accuracy and completeness before submitting.
08
File your completed tax forms either by mail or electronically, depending on your preferred method.
09
Submit any required payment or arrange for a refund, depending on your tax liability.
10
Keep copies of all filed tax documents, including forms, receipts, and any supporting documentation, for future reference.
Who needs annual personal income tax?
01
Anyone who earns income during the tax year may need to file an annual personal income tax return.
02
This includes individuals, self-employed individuals, freelancers, contractors, and small business owners.
03
Even if you don't owe any taxes, you may still need to file a tax return if you meet certain income thresholds.
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What is annual personal income tax?
Annual personal income tax is a tax paid on the income an individual earns in a year.
Who is required to file annual personal income tax?
Individuals who meet certain income thresholds set by the government are required to file annual personal income tax.
How to fill out annual personal income tax?
Individuals can fill out annual personal income tax forms online or by using tax preparation software.
What is the purpose of annual personal income tax?
The purpose of annual personal income tax is to fund government operations and services.
What information must be reported on annual personal income tax?
Information such as income earned, deductions, credits, and any taxes already paid must be reported on annual personal income tax forms.
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