Tax Reporting
/ˈtæks rɪˌpɔrtɪŋ/
Definitions
- (n.) The process of preparing and submitting tax returns or financial information to government tax authorities in compliance with tax laws.
The company improved its tax reporting to ensure full compliance with federal regulations.
- (n.) Legal and financial obligations and procedures related to disclosure and documentation of taxable activities.
Accurate tax reporting is essential to avoid penalties during audits.
Forms
- tax reporting
Related terms
See also
Commentary
Tax reporting involves both procedural submission and adherence to substantive tax law requirements; clarity in terminology aids in distinguishing reporting duties from tax assessment or payment obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.