ASK & ANSWER | Browse questions and answers from our community experts
Showing 1 - 3 of 1471 results.
How do you calculate the tax rate?
Asked by unknown
1 Answers
The most straightforward way to calculate effective tax rate is to divide the income tax expenses by the income earned before taxes. For example, if a company earned $100,000 and paid $25,000 in taxes, the effective tax rate is equal to 25,000 / 100,000 or 0.25.
Can the IRS send you a copy of your tax return?
Asked by unknown
1 Answers
Actual copies of your tax returns are generally available for the current tax year and as far back as six years. The fee for each copy you order is $57. To request a copy of your tax return, complete Form 4506, available on IRS.gov. Mail your request to the IRS office listed on the form for your area.
What will be my taxable income?
Asked by unknown
1 Answers
Taxable income is the amount of income used to calculate an individual's or a company's income tax due. Taxable income is generally described as gross income or adjusted gross income minus any deductions or exemptions allowed in that tax year.