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A D M IN IS TR ATO AD M I NI S T R ATO R S A D VA N TA G E SEPTEMBER / OCTOBER 2018 ISSUE FOR THE GREATER CHICAGO CHAPTER OF THE ASSOCIATION OF LEGAL ADMINISTRATORSFinance IssueFinance Issue AN ALARIC

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What is statement of tax record?

A statement of tax record is a document that summarizes an individual's or entity's tax obligations and payments made over a specified period.

Who is required to file statement of tax record?

Individuals and entities that have taxable income or are required to report their tax obligations to the revenue authorities must file a statement of tax record.

How to fill out statement of tax record?

To fill out a statement of tax record, you need to provide personal or business identification information, report all sources of income, claim deductions or credits, and specify your tax payments made during the reporting period.

What is the purpose of statement of tax record?

The purpose of a statement of tax record is to provide an official account of tax activities, ensuring compliance with tax laws, and serving as a basis for tax assessments by the authorities.

What information must be reported on statement of tax record?

The statement must include personal identification information, total income, deductions claimed, tax credits, and the total taxes paid or owed.

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