We're going to take a quick look at South Carolina tax returns. Of course, if you're doing tax returns, they're going to involve an IRS return. But oftentimes, you'll also have to do a state return for that individual, sometimes more than one state. You have to know the various laws of the states that you are working returns for. So we're just going to take a quick look at South Carolina. I'm here at their website, SCtax.org, and we're going to take a look at the individual tax return. So, we can go several places. You can go into the "Individuals" tab over here and find out some information about them. We're going to take a quick look at that, just at the forms. When I click on the forms, it's going to give me a variety of forms. We want to look at the individual income tax form. There's, as you can see, lots of different taxes that run through the US South Carolina Department of Revenue. Hey, when I click on that, it brings up all the individual tax forms for South Carolina for this year. And you can see that there are tabs along the top for further years if you need them. Here's a tax packet with general instructions and the actual South Carolina 1040 instruction booklet. So, this would be the instructions that you might want to download. The actual tax return itself is the SC 1040. We're going to take a look at that. Occasionally, someone may qualify for South Carolina credits. They're not as common to qualify for credits in South Carolina as they are for the IRS, so you may not. South Carolina tax tables are here as well, so we're going to take a look at those in a minute. Notice that...
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Fiduciary Income Tax Return - Sc Department Of Revenue: What You Should Know
D) If any payment is made on account of a claim or judgment in a court, administrative tribunal, or a law enforcement agency or any payment made on account of tax or penalties is required by statute or by regulations, the payment must be made by an authorized agent, a guardian, or other person authorized by law, and the taxpayer must provide a copy of this notice to the agent, guardian, or other person by whom he authorized the payment. (e) Any payments made on account of tax or penalties must be paid to the commissioner. (f) In addition to the requirements of subsection (b), a taxpayer providing notice of the return or payments required by subsections (a) and (d) to the Internal Revenue Service must provide notice and information required under subsection (e). The notice and information should include: (1) the amount of the payment, (2) the due date for payment, and (3) the name of the officer to whom the payment was made. (g) The payment of taxes or costs may be deferred by filing a claim with the commissioner, in the form authorized by the commissioner, but if a claim is filed, the amount of the tax or costs deferred and paid may not exceed ten percent (10%) of the return. If a taxpayer is unable to satisfy this requirement, a trust fund account (see section 12-39-3) established for that purpose may be established. (h) If payment of taxes or costs is deferred and deferred, then the payment of other taxes may be made if a qualified trust is established for the payment of other taxes (that tax paid, that costs paid, and any tax or costs deferred by the payment may be paid) at the times and in the amounts, provided that the total of the amounts paid for other taxes does not exceed ten percent (10%) of the return. The amount must be adjusted each year to reflect any amounts paid for other taxes. (i) A trust fund account established for the payment of all taxes, interest, penalties, and interest charges is subject to the requirements of the Department of Revenue, Division of Administrative Rules, when that trust fund account is established or established for the payment of other taxes, interest, penalties, and interest charges. SEC. 12-39-3.
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