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Tax consolidation, or combined reporting, is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly owned or majority-owned companies and other entities (such as trusts and partnerships) as a single entity for tax purposes.
A consolidated financial statement (CFS) is the "financial statement of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity", according to the definitions stated in International Accounting Standard 27, "Consolidated and separate financial statements", and International ...
For 2021, the basic standard deduction was $12,550 for single individuals or married persons filing separately, $25,100 for a joint return or surviving spouse, and $18,800 for a head of household. Itemized deductions: Those who choose to claim actual itemized deductions may deduct the following, subject to many conditions and limitations:
Time is running out on tax season for 2014, and according to the Wall Street Journal, the Internal Revenue Service will receive 30 million returns -- or about 20 percent of the total filed -- in ...
A joint return is often the smartest move for married couples, but there are a few scenarios where it makes sense to file on your own. 3 reasons married couples should consider filing taxes separately
Alexander Raths/Shutterstock For the vast majority of Americans, getting married means filing joint tax returns. According to the latest Internal Revenue Service, in the 2011 tax year, 53.3 ...
'Aggregate income' in economics is a broad conceptual term. It may express the proceeds from total output in the economy for producers of that output. There are a number of ways to measure aggregate income, [ 5 ] [ 6 ] but GDP is one of the best known and most widely used.
In the United States, taxpayers may file an amended return with the Internal Revenue Service to correct errors reported on a previously paid tax return. Typically a taxpayer does not need to file an amended return if he or she has math errors as the IRS will make the necessary corrections.