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Form CT-3-S, New York S Corporation Franchise Tax Return, instead of. Form CT -3 or CT-4. Mandated New York S ...

How to fill out 1 who must file

To fill out Form 1 (Who Must File), follow these steps:

Gather your personal information:

1. Collect your full name, social security number, and contact information.
2. Have a copy of your previous year's tax return and any relevant tax documents, such as W-2 forms or 1099 forms.

Determine if you are required to file:

Review the IRS guidelines or consult a tax professional to determine if your income and filing status make you obligated to file a tax return.

Understand the purpose of Form 1 (Who Must File):

1. Form 1 is used to determine if you are required to file a Wisconsin income tax return.
2. It helps the Wisconsin Department of Revenue assess your tax liability and ensure compliance with state tax laws.

Complete the top section of the form:

1. Provide your personal information, including your name, social security number, and filing status.
2. Indicate your residency status and the number of exemptions you are claiming.

Provide information about your income:

1. Follow the instructions on the form to report your total income from various sources, such as wages, self-employment earnings, rental income, and investment income.
2. Include any deductions or adjustments to your income that you are eligible for.

Determine your tax liability:

1. Use the provided tax tables or the tax computation worksheet to calculate your tax liability based on your income and filing status.
2. Consider any tax credits for which you qualify, as they can reduce the amount of tax you owe.

Complete the rest of the form:

1. Answer all the additional questions and provide any other required information, such as health insurance coverage details or any additional taxes owed.
2. Attach any necessary schedules or supporting documents, as instructed.

Double-check your entries and calculations:

1. Review all the information you have provided on Form 1 for accuracy and completeness.
2. Verify that your calculations are correct and that you have applied the correct tax rates and deductions.

Sign and date the form:

1. Once you are satisfied with your entries, sign and date the form as the taxpayer.
2. If filing jointly, both spouses must sign the form.

Who needs to fill out Form 1 (Who Must File)?

1. Wisconsin residents who meet the income and filing status requirements outlined by the Wisconsin Department of Revenue.
2. Non-residents who earned income in Wisconsin and meet the filing threshold set by the state.

It is important to note that this answer provides a general overview of how to fill out Form 1 (Who Must File) and who needs to complete it. Individual circumstances may vary, and it is recommended to consult a tax professional or refer to the official instructions provided by the Wisconsin Department of Revenue for detailed and personalized guidance.

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