A tax refund is an amount that you will receive from the government in the event you have paid some extra taxes last year. The government will refund you this amount as you estimated your income higher and paid the taxes accordingly. Whereas the exact tax calculated against your income was less than that you had paid last year.
The reasons you could receive a tax refund can be multiple. For example, if you are doing a job and your employer withheld an excess amount on your paycheck. This is an error in filing your tax return so the tax authorities will refund you the excess amount withheld.
Lanco Corporation, an accrual-method corporation, reported taxable income
Beth R. Jordan lives at 2322 Skyview Road, Mesa,
Donna Jamison, a 2003 graduate of the University of Florida with
Indicate where the following items would ordinarily appear on the financial statements
The following are situations that may violate the Code of Professional Conduct
Happy Hippos (HH) is a manufacturer and retailer of New
Myrna and Geoffrey filed a joint tax return in 2016. Their
D’Leon Inc., a regional snack foods producer, after an expansion
Doug Jones timely submitted his 2016 tax return and elected married filing
In 2016, Nadia has $100,000 of regular taxable
