Examlex
The invasion of life onto an island newly created by volcanic activity is an example of primary succession.
Tax Return
A formal document filed with a government body, reporting income, expenses, and other pertinent tax information, used to calculate tax liability.
Reports Income
The process of declaring income received during a tax year on one's tax return.
Taxpayer
A person or organization required to remit taxes to governmental bodies at any level, including federal, state, or municipal.
Tax Liability
The amount of total tax debt owed by an individual or entity to the taxing authority, such as the IRS, after all deductions, credits, and exemptions.
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