Chapter 4, Problem 3BYOPFM

Summary Introduction

To determine: The relevant steps in filing an income tax return to obtain a tax refund.

Introduction:Tax return is about completing the relevant documentation that will calculate an individual’s or entity’s income earned with the amount of tax payable to the government. This will be done in order to calculate the taxpayer’s tax liability, schedule tax payments or even to request for the tax refunds for the overpayment of taxes.