Tax Return Paper

timer Asked: Feb 19th, 2019
account_balance_wallet $30

Question Description

Complete the federal income tax forms for a married couple (information provided in It is up to the student which forms are used from the following list (blank copies of all forms are available in your classroom in Week 5 under Final Paper).

The assignment can be completed without the TaxAct CD.

Upon completing the return, the student will submit a three to six page paper describing why they chose the forms and how the federal income tax return forms work. The student will submit both the tax return (all forms used) and the paper to their instructor.

Writing the Final Paper

The Final Paper:

1. Must be three to six double-spaced pages in length, and formatted according to APA style

2. Must include a title page with the following:

  • Title of paper
  • Student’s name
  • Course name and number
  • Instructor’s name
  • Date submitted

3. Must begin with an introductory paragraph that has a succinct thesis statement.

4. Must address the topic of the paper with critical thought.

5. Must end with a conclusion that reaffirms your thesis.

6. Must use at least five scholarly sources

7. Must document all sources in APA style,

8. Must include a separate reference page, formatted according to APA style

Appendix and Forms

Appendix AView in a new window

Link to Forms (Links to an external site.)Links to an external site. (

Tutor Answer

School: University of Maryland



Tax Return Paper
Student’s name
Course name and number
Instructor’s name
Date submitted



Filing of tax returns is important in that it enables the IRS to establish whether the amount
of taxes paid in a given financial year tallies with the required amount as based on the income
which was made during the period. Thus, it creates a chance for a tax refund where an individual
happened to pay more than necessary or an additional payment where the amount remitted in taxes
was lower than what was required (Single & Rosner, 2017). Filing tax returns is, thus, an important
process as it enables the government to make citizens accountable. There are various forms for
filing tax returns. One of them is Form 1040 which is the individual tax return. The form can be
filed in three ways. One of them is where it is filed by a single person. The second option is where
it is filled by a married person filing jointly with a spouse (Larrimore, Mortenson, & Splinter,
2017). The third option is where a person is married, but he is filing it separately with his spouse.
The report seeks to show a summary of tax returns filed by a couple; Kenneth and Naomi Jones
for the year 2018.
Form 1040 is one of the three IRS tax forms used for filing personal tax returns with the
IRS. The tax returns for a given year are generally due on the Tax Day of the following year. The
Tax Day is normally the 15th of April, until the time when the date falls on a Saturday or Sunday
or on a public holiday. Where such circumstances occur, the deadline for filing tax returns falls on
the following business day. An individual can, however, get an automatic extension for filing tax
returns till the 15th of October by filling Form 4868.
As it pertains to the case of Kenneth and Naomi Jones, the combined wages salaries and
tips for the entire 2018 amounted to $107,968. The figure was also the same as the combined
amounts. Thus, there was no additional income for the couple for the year 2018. The taxable
income for the amount was $72,433. Thus, the tax payable for the $72,433 was $9,941. The total



credits for the couple are established to be $1,600. Thus, the total amount payable by the couple
for the year 2018 was $10,344. The amount overpaid in taxes for the year was $2,003. The amount
of taxes which the couple paid for the period was $7,235. The total itemized deduction for the year
2018 was $23,525. The amount was, thus, not taxable (Katz, 2018). However, it is established that
the couple did not have any long-term capital gains or losses. Thus, the section did not have an
impact on the amount of money which the couple had paid in the form of taxes for the year.
The couple also filed the Form 2441. Form 2441 pertains to the Child and Dependent Care
Expenses. The main aim of the Form is to provide a tax credit where an individual hired a person
to take care of a disabled child or spouse (Cripe, Mantzke, & Bowen, 2016)...

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