Get the free 2012 Tax Return Preparation and Federal Reporting Guide - tarriverbaptist

2012 Tax Return Preparation and Federal Reporting Guide Ministers tax Guide for 2011 returns Prepared by Richard r. Hammer, J.d., LL.M., CPA Senior Editor, Church Law & Tax Report Congress extends

How to fill out 2012 tax return preparation

How to fill out 2012 tax return preparation:

1. Gather all necessary documents, such as W-2 forms, 1099 forms, and any other income-related documents.
2. Calculate your income for the year, including wages, tips, self-employment income, and any other sources of income.
3. Determine your filing status, whether you are single, married filing jointly, married filing separately, or head of household.
4. Choose the appropriate tax form to use for your filing status, such as Form 1040, 1040A, or 1040EZ.
5. Fill in your personal information, including your name, address, and Social Security number.
6. Report all income earned for the year by filling in the corresponding lines on the tax form.
7. Deduct any eligible expenses, such as mortgage interest, student loan interest, or medical expenses.
8. Enter any tax credits you may be eligible for, such as the Earned Income Credit or the Child Tax Credit.
9. Calculate your tax liability using the tax tables provided by the IRS or by using tax software.
10. Subtract any tax payments already made throughout the year, such as tax withholding from your paycheck or estimated tax payments.
11. If you owe taxes, include a payment with your tax return. If you are due a refund, include your bank account information for direct deposit.
12. Review your completed tax return for accuracy and sign it before mailing it to the appropriate IRS address.

Who needs 2012 tax return preparation:

1. Individuals who earned income in the year 2012 and are required to file a federal income tax return.
2. Businesses that operated during the year 2012 and need to report their income and expenses for that year.
3. Self-employed individuals who need to report their income and expenses for the year 2012.
4. Individuals who had taxes withheld from their income but may be eligible for a refund due to overpayment.
5. Individuals who may be eligible for tax credits or deductions based on their income, expenses, or personal circumstances during the year 2012.

For pdfFiller’s FAQs

What is tax return preparation?

Tax return preparation is the process of organizing and completing a taxpayer's tax documents in order to report their income, deductions, and credits to the appropriate tax authorities.

Who is required to file tax return preparation?

Individuals and businesses who meet certain income or filing requirements set by the tax authorities are required to file tax return preparation.

How to fill out tax return preparation?

Tax return preparation can be filled out manually using paper forms or electronically through tax preparation software. It involves providing accurate information about income, expenses, and credits, and following the guidelines provided by the tax authorities.

What is the purpose of tax return preparation?

The purpose of tax return preparation is to determine the amount of taxes owed or refunds due for a specific tax year. It allows taxpayers to fulfill their legal obligations and ensures compliance with tax laws.

What information must be reported on tax return preparation?

Tax return preparation requires reporting various types of information such as income from different sources, deductions, credits, and other relevant financial details. The specific information required may vary depending on the tax jurisdiction.

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