The 2024-2025 IRS Income Tax Return (ITR) is a tax form used to report income, deductions, and credits for the 2024-2025 tax year. The ITR is used to calculate the amount of tax owed or the amount of refund due. The 2024-2025 ITR has been updated to reflect changes in the tax law, including the Tax Cuts & Jobs Act of 2017. The ITR is available online at the IRS website.
The 2024-2025 ITR is an important document that should be completed accurately and filed on time. The IRS uses the ITR to determine the amount of tax owed or the amount of refund due. If the ITR is not filed on time, the taxpayer may be subject to penalties and interest charges. In addition, the IRS may use the ITR to verify the taxpayer’s identity and to determine if the taxpayer is eligible for certain tax credits and deductions.
