A tax return is a form on which a person or entity reports income, deductions, and exemptions to the federal or state taxing authority (IRS or state tax authority), and on which the person or entity’s income tax liability is calculated.
In Connecticut (CT), a tax return is a document filed with the state's Department of Revenue Services (DRS) or the Internal Revenue Service (IRS) for federal taxes, detailing income, deductions, and exemptions for the year. For state taxes, residents use forms such as the CT-1040 for individual income tax returns. Connecticut's tax system includes income tax, sales tax, and various other taxes. The state income tax rates vary depending on the income bracket. Taxpayers in Connecticut must file their state tax return by the same deadline as the federal tax return, typically April 15th, unless an extension is granted. It's important to accurately report all income and claim only the deductions and exemptions to which one is entitled, as errors or omissions can lead to penalties or audits. For specific guidance, taxpayers often consult with an attorney or a tax professional.