Can anyone share a link on how to fill out the GST and GST annual return?
The deadline for filing GST Return for the year 17–18 is fast approaching .To file the GST annual return you need to reconcile the data appearing in your returns with the data in your financial books.You can watch the below video to have a basic idea about filing GST annual returnEnglish :Hindi :
The IRS sent me a form 1065, but I am a sole proprietor. Do I ignore this form and fill out a schedule C?
I would assume that you applied for an employer identification number and checked the partnership box by mistake instead of sole proprietor. If this is the case, this requires you to obtain a new EIN.If you properly filled out the application for an EIN, you can ignore the 1065 notice.Your EIN acknowledgement letter from the IRS will state what type of return they expect you to file under the EIN.
How do I submit income tax returns online?
Here is a step by step guide to e-file your income tax return using ClearTax. It is simple, easy and quick.From 1st July onwards, it is mandatory to link your PAN with Aadhaar and mention it in your IT returns. If you have applied for Aadhaar, you can mention the enrollment number in your returns.Read our Guide on how to link your PAN with Aadhaar.Step 1.Get startedLogin to your ClearTax account.Click on ‘Upload Form 16 PDF’ if you have your Form 16 in PDF format.If you do not have Form 16 in PDF format click on ‘Continue Here’Get an expert & supportive CA to manage your taxes. Plans start @ Rs.799/-ContinueWhat are you looking for?Account & Book KeepingCompany RegistrationGST RegistrationGST Return FilingIncome Tax FilingTrademark RegistrationOtherStep 2.Enter personal infoEnter your Name, PAN, DOB and Bank account details.Step 3.Enter salary detailsFill in your salary, employee details (Name and TAN) and TDS.Tip: Want to claim HRA? Read the guide.Step 4.Enter deduction detailsEnter investment details under Section 80C(eg. LIC, PPF etc., and claim other tax benefits here.Tip: Do you have kids?Claim benefits on their tuition fees under Section 80CStep 5.Add details of taxes paidIf you have non-salary income,eg. interest income or freelance income, then add tax payments that are already made. You can also add these details by uploading Form 26ASStep 6.E-file your returnIf you see “Refund” or “No Tax Due” here, Click on proceed to E-Filing.You will get an acknowledgement number on the next screen.Tip: See a “Tax Due” message? Read this guide to know how to pay your tax dues.Step 7: E-VerifyOnce your return is file E-Verify your income tax return
If the IRS knows how much money we owe, why do we need to fill out returns?
Because the IRS doesn't know how much money you owe. They know approximately what you made, and they know a little bit about some of your deductions, but they don't know whether and to what extent you are entitled to additional deductions or credits, or whether and to what extent you earned money from transactions not reported to the IRS. Even on the transactions that were reported to the IRS, the IRS doesn't always know how much of that income is actually taxable - or at what rate.
How could the federal government and state governments make it easier to fill out tax returns?
Individuals who don't own businesses spend tens of billions of dollars each year (in fees and time) filing taxes. Most of this is unnecessary. The government already has most of the information it asks us to provide. It knows what are wages are, how much interest we earn, and so on. It should provide the information it has on the right line of an electronic tax return it provides us or our accountant. Think about VISA. VISA doesn't send you a blank piece of paper each month, and ask you to list all your purchases, add them up and then penalize you if you get the wrong number. It sends you a statement with everything it knows on it. We are one of the only countries in the world that makes filing so hard. Many companies send you a tentative tax return, which you can adjust. Others have withholding at the source, so the average citizen doesn't file anything.California adopted a form of the above -- it was called ReadyReturn. 98%+ of those who tried it loved it. But the program was bitterly opposed by Intuit, makers of Turbo Tax. They went so far as to contribute $1 million to a PAC that made an independent expenditure for one candidate running for statewide office. The program was also opposed by Rush Limbaugh and Grover Norquist. The stated reason was that the government would cheat taxpayers. I believe the real reason is that they want tax filing to be painful, since they believe that acts as a constraint on government programs.