Understanding Tax Returns

Next Video:
How to Find a Tax Preparer....5

When looking at tax returns, it's important to remember that it is one's responsibility to sign the return under penalties of perjury. Find out about reference guides for income tax returns with help from a certified public accountant in this free video on tax returns.

Part of the Video Series: Tax Advice
Promoted By Zergnet


Video Transcript

Understanding tax returns. When you are looking at your taxes remember one thing- it is your responsibility you sign the return under penalties of perjury. As you look at your returns remember we are talking just income tax at this point. There's many other tax returns, and you sign these, and there are penalties of perjury, and you have to be responsible for them. You need to understand there are many good reference guides for individuals and businesses. The IRS issues publication 17, which is an individual and a small business guide. Or publication 334, which is free, and they are written in very understandable English. 334 is a small business guide. Or there are such things as quick finder by Thompson and Reuters, and there's others and J.K. Lasser also he issues a book. There's a number of books at a number or local stores that can understand. Remember it is your responsibility to understand your tax return. Even if you hire a local accountant, a local tax consultant to prepare your returns you are the final say, and responsibility. Even if you are just the bookkeeper for a business, and you sign those it is your responsibility. So understand what you are signing, and be very aware of that you are the person that they will contact to collect the debt. They are a number of taxes such as trust fund taxes, meals tax, sales tax, withholding taxes. You sign those, and the company does not pay you are responsible. Yes they will look at the owner, but they will look at who signs those returns. So you really need to understand, you need to do your research, and understand what you are signing and agreeing that you have knowledge of.


Related Searches

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!