Why might someone want to file a tax return even if they dont meet the minimum income requirement

Answers

Answer 1

A taxpayer might want to file a tax return because they want to ensure they pay necessary tax as when due.

What is a filing of tax return?

A  tax return basically means the forms filed with the tax authority by a taxpayer that entails his/her income, expenses, tax information etc.

The filing of tax return allow the taxpayers to:

calculate their tax liabilityschedule tax paymentsrequest refunds etc

However, a taxpayer might want to file a tax return even if they dont meet the minimum income requirement because they want to ensure they pay necessary tax as when due.

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Related Questions

A ______ is a conceptual framework that describes how a company creates, delivers, and extracts value.

Answers

The answer should be a primary business model.

Hope that helped!

distinguish between capital intensive and labour intensive​

Answers

answer:

capital intensive

— industries require a greater amount of machinery to produce the product

labour intensive

— product requires a larger amount of human labor to bring it off

explanation:

ex:

capital intensive

— telecommunications, airlines, automobile manufacturing, oil production

labour intensive

— food service, hospitality, public education, agriculture

credits: online search!

Capital intensive industries required a great amount of machinery to produce the product.

Labour intensive products required a larger amount of human labor to bring it off.

In accounting, the term impairment refers to Multiple choice question. offsetting liabilities against the related assets. allocation of an asset over its service life. cost recovery of an asset for investment purposes. an asset's significant decline in value.

Answers

In accounting, the term impairment refers to  an asset's significant decline in value.

What is impairment?

Impairment is when the value of an asset is permanently reduced on the company's balance sheet. When an asset is tested for impairment, its book value is compared to the benefits and cash flows. If the book value is greater than all the benefits of the asset, the asset is impaired and its value is reduced on the balance sheet.

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Miranda needs to build new shelves in her pantry to store all these items. She wants to put each type of item on a separate shelf. The shelves will be able to support 25 lbs. Will the new shelves be able to support her current supply of powder goods? Use the conversion table below and a spreadsheet to help you determine the answer

Answers

Answer: yes

Converting each to pounds it equals 13.3 pounds

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A rightward shift in the short-run aggregate supply curve will occur when:.

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A rightward shift in the aggregate supply curve will occur when: there is a decrease in price input.

What is a supply curve?

A supply curve is a graphical representation of how the market would behave or move in there is a change in supply. It is a representation of the relationship between the quantity supplied for a given period of time and the prices of goods and services.

A rightward shift in the short run aggregate supply curve will then occur anytime there is a decrease in the price input.

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The Work Breakdown Structure can be best be thought of as an effective aid for ___________ Communications

Answers

Answer:

The Work Breakdown Structure can be best thought of as an effective aid for Stakeholder Communications.

Create one sentence summarizing what you have read. You must keep your sentence to 20
words or less. You may take more than one try to get to twenty

Answers

A sentence that can summarize what I have read is: "Understanding people's perspectives requires a broad-minded attitude, which appears rare in the modern days."

What does individual perspective mean?

Individual perspective means the mental state whereby available facts and personal ideas describing human behavior are combined to form opinions or viewpoints.

In life, individual perspective describes the way people:

Understand lifeApproach life issues Apply personal experiences.

Thus, a sentence that can summarize what I have read is: "Understanding people's perspectives requires a broad-minded attitude, which appears rare in the modern days."

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A ________ demand curve for shampoo would be caused by a change in the price of shampoo. Group of answer choices rightward shift of the leftward shift of the movement along the positively sloped

Answers

the answer choice is… movement along the

Alpha Electronics assembles different parts to make standardized laptops along an assembly line. Alpha Electronics uses _____ technology. a. continuous-process b. unit c. job rotation d. mass-production e. small-batch

Answers

Based on the fact that different parts are assembled to make standardized laptops, Alpha Electronics is engaged in D. Mass production.

What is mass production?

This is when a company produces goods in a large quantity at the same time.

It is usually done by using an assembly line where parts will then be assembled into a complete product.

In conclusion, option D is correct.

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Pfizer, Inc. (PFE) has earnings per share of $2. 09 and a P/E ratio of 11. 2. What is the stock price?

29

Multiple Choice

3. 3

points

$23. 03

$18. 97

$5. 27

$0. 19

Answers

Answer:

it should be 23.03 and 0.19

This tax is locally assessed, varies according to the worth of land and goods on it, and generally funds things like public schools.

Answers

Answer:

Property

Explanation:

I Did it

any business ideas u guys want to do in the future?

Answers

Explanation:

I would like to be a pathologist because they peform autospys which is when they figure out how a person died or a paramedic

Which of the following is true regarding growth rates for countries around the world compared to the United States?
I. More than fifty percent of the world’s people live in countries with a lower standard of living than the U.S. had a century ago.
II. The U.S. growth rate is six times the growth rate in the rest of the world.
III. China has only recently attained the same standard of living the U.S. had a century ago.

Answers

Answer:

More than 50% of the world's people live in countries with a lower standard of living than the U.S had a century ago.

Why is it important to know the tax implications of giving away money or an inheritance?.

Answers

The implications of giving away money or an inheritance depends on the amount of money and the state in which you live.

What is tax?

If money less than or equal to $14,000 is given as tax, this would be tax-free each year because of the gift tax exemption. But if the money is above $14,000 in a single year, the gift would be taxed.

Most states do not have tax on inheritance but some have inheritance tax which is assessed on assets as they are being transferred to inheritors.

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Which of these statements about pipeline inventory is best? A. Changing an item's lot size does not directly affect the average level of the pipeline inventory. B. Pipeline inventory exists to avoid customer service problems. C. None of the other options D. Pipeline inventory is used to even out volatile fluctuations in supply or demand. E. Shorter lead times create more pipeline inventory.

Answers

Answer: Changing an item's lot size does not directly affect the average level of the pipeline inventory.

The present value of an annuity stream of $100 per year is $614 when valued at a 10% rate. By approximately how much would the value change if these were annuities due

Answers

$61.40

Difference = $614(1.10) - $614 = $61.40

What is the first step of the five-step financial planning process?.

Answers

setting smart goals or knowing your financial situation

An economy's resources:________.
a. are unrelated to its standard of living.
b. are limited in quantity.
c. are unlimited when we use the latest technology.
d. consist of land, labor, capital, and money.
e. are always efficiently utilized.

Answers

Answer:

D

Explanation:

I think is D because is most correct answer

The system in which the country pegs its currency (e.g., Chinese yuan, Saudi Arabian riyal) at a fixed rate to a major currency or basket of currencies, while the exchange rate fluctuates within a narrow margin around a central rate is called a(n)

Answers

The system described above refers to the Fixed Exchange Rate System.

What is the fixed exchange rate system?

The fixed exchange rate system is a term that refers to the exchange regime of a monetary unit whose value is adjusted according to the value of another reference currency such as the Dollar or the Euro.

According to the above, the currencies of different countries gain or lose value according to their change with respect to the reference currencies.

This system has become widespread in the world with the aim of facilitating trade and investment between countries with the reference currencies.

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Hunter owns an app development firm. Though the company started small, the business has grown substantially with more people and greater specialization. What does growth like this require in terms of structure

Answers

Growth like this requires developing a formal structure that will ensure the efficiency of operation.

What is a Formal Structure?

A formal structure is a structure that aids a company's owner in maintaining a specified hierarchy of standards.

The formal structure assists in organizing the workforce or workers.

As a result, each person's work will be explicitly assigned to them, and each will be responsible for their own tasks.

When a firm is growing from a low to a high level, expending a significant amount of time and work is necessitated.

Therefore, if a company is growing and progressing, the owner must adhere to a formal structure.

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Mr. Thompson is an outbound logistics manager for a large tile company. As outbound logistics manager, Mr. Thompson is focused on what two main issues:

Answers

The main issues faced by logistics managers are storage and transportation.

The problem faced by Logistics managers

Logistics is the management of the flow of things between the point of origin (manufacturer) and the point of consumption to meet the requirements of customers.

When it comes to logistics, the main issues faced by logistics managers are storage and transportation.

During the transportation of goods, logistics are faced with a lot of traffic and storage of goods and services hence it is crucial that logistics managers focus on these two main issues.

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Flextime is a system that allows employees some freedom to choose which hours to work as long as they:

Answers

as long as they work the required number of hours.

In distinguishing between firm strategies for developing new products, a pioneer firm will be more likely to rely on its ______, whereas a follower firm will be more likely to ______ for ideas.
a. look within; scan the outside
b. look inside; scan the perimeter

Answers

Answer:R&D department, scan the market

Explanation:

Labor rates have risen over time to the point that Antonio's Pasta is considering _____ to reduce costs.

Answers

Answer:

Offshoring

Explanation:

Financial skills, dependability, and dexterity for physical labor are skills for which career pathway?

A. Manufacturing Production Process Development

B. Health, Safety, and Environmental Assurance

C. Logistics and Inventory Control

D. Quality Assurance

Answers

Answer:

the answer is letter b

Explanation:

no explanation:))))

Answer:

b

Explanation:

Adya, a media planner, switches to a new job at her company that involves more responsibility and an increase in compensation. This transition would typically be considered

Answers

The transition of Adya involves more responsibility and an increase in compensation and is known as a promotion.

What is a promotion?

A promotion at workplace simply involves a step up the ladder and a increase on responsibility at the workplace.

In this case, the transition of Adya involves more responsibility and an increase in compensation and is known as a promotion

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If subsidies for research and development on new technologies lead to an increase in the average productivity of labor, what will most likely happen to real GDP per capita and long-run aggregate supply LRAS for a given population size

Answers

Real GDP per capita and LRAS will increase if there is an increase in the average productivity of labor.

What is GDP?

This is referred to as Gross domestic product and it is defined as the monetary measure of the market value of all the final goods and services produced in a specific time period by countries.

Whje  productivity increases, it leads to a corresponding increase in Real GDP per capita and LRAS will increase.

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Why do economists use circular flow models?
A. To track how different investments gain and lose value over time
B. To identify the causes of major economic changes in a country
C. To predict how a country's economy will respond to a proposed
change
D. To show how money moves through different parts of an
economy

Answers

Answer:

d is the right answer if the question

Economists use circular flow models to show how money moves through different parts of an economy. Hence option D is correct.

These models provide a simplified representation of the economy by illustrating the flow of money, goods, and services between households, businesses, and the government. By mapping out the interactions and exchanges, economists can analyze the circular flow of income and expenditure, helping them understand how economic activities are interconnected.

This model allows economists to study the effects of changes in variables such as consumption, investment, government spending, and exports on the overall functioning of the economy. It helps in examining the multiplier effects, identifying leakages and injections, and analyzing the interdependencies within the economic system.

Therefore option D is correct.

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What is one purpose of an essay's introduction paragraph?
47
O to provide a list of transitional words that will help your reader make sense of the writing
O to elaborate fully on one of the essay's main ideas
O to restate your main ideas and make a lasting impression on your reader
O to engage the reader by telling a personal story or sharing a startling statistic

Answers

Answer:

B.

Explanation:

To elaborate fully on one of the essay's main ideas. You want for your reader to know what they will be reading about.

Which retail chain has a logo featuring a caricature of the faces of the three founders?.

Answers

The retail chain that  has a logo featuring a caricature of the faces of the three founders is Pep Boys.

What is a retail chain ?

A retail chain  can be regarded as a retail outlet that has several locations share a brand, central management with business practices.

Pep Boys  which is an American automotive aftermarket service chain featured caricature of the faces of the three founders and was a company was founded in Philadelphia, Pennsylvania.

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An example of the connection between different types of pollution is acid rain. Acid rain is caused mostly by sulfur or nitrogen emissions given off by sources such as car exhaust and the burning of fossil fuels such as coal. These harmful chemicals rise into the atmosphere where they react with other compounds and then fall as an acidic form of rain, sleet, or snow. Acid rain damages plants and buildings, contaminates soil and water, and has a negative effect on animals, fish, and even humans.Pollution has other effects, too. Breathing toxic air or drinking polluted water can cause humans and animals to develop health problems that can be serious and sometimes deadly. The deaths of too many members of a certain species of animal can upset the local ecosystem, or the area in which they live. As a result, weather patterns and climates can also change.Though pollution is everywhere, there are ways to help prevent it. By walking or riding bikesinstead of driving carspeople can help decrease air pollution. People can also buy and eat organic foods to support farmers that do not use fertilizers on their crops. It is also a good idea to take old things that people intend to throw away and find new ways to use them. A great way to help the environment is to recycle. Save items like used paper, glass and plastic bottles, and metal cans. Then, take them to a recycling center where they can be turned into new products to be used again. Some cities and towns even have recycling programs in place so all you have to do is leave your recyclable items on the curb on a certain day each week. 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