Individual Tax Return Definition
Individual Tax Return is a type of declaration of income made annually to the tax authorities. The tax return document is a basis for assessing the taxpayer's tax liability. The Individual Tax Return is filed by an individual person rather than a business entity. There are three individual tax return forms depending on the individual's circumstances, if the taxpayer wants to deduct certain items, if he or she has an income from sale of property, on the taxable amount of money, etc.