Definitions from the Web
Joint Return
Description:
A joint return refers to a tax return filed by a married couple who choose to combine their tax obligations into a single form. This type of return offers certain benefits and potential tax advantages.
Senses:
- Noun: A tax return filed by a married couple, reporting their combined income, deductions, and credits.
- Noun: The act of filing a tax return jointly.
Sample Sentences:
- Noun: When submitting a joint return, both spouses must sign the form.
Example: "John and Sarah filed a joint return for the previous tax year."
- Noun: Filing jointly can potentially result in a lower overall tax liability.
Example: "By filing a joint return, they were able to take advantage of certain tax credits."
- Noun: Filing a joint return might require additional documentation.
Example: "Make sure to include all necessary supporting forms when filing a joint return."
- Noun: Many tax professionals recommend couples to consider filing a joint return.
Example: "The tax advisor advised them that filing a joint return might be more beneficial in their situation."
- Noun: Satisfying the residency requirements is essential for filing a joint return.
Example: "To file a joint return, the couple must meet the residency conditions as outlined by the tax authorities."
- Noun: Some couples prefer to file separate returns instead of a joint return.
Example: "Due to their complex financial situation, they decided to file separate returns rather than a joint return."
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