HopefullyInLawSchool
16:06
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
tax-return privilege
Read a random definition: de minimis
A quick definition of tax-return privilege:
Tax-return privilege is a legal right that allows a person to keep their tax return and related documents private. This privilege is based on the idea that people should be encouraged to file honest tax returns. It is a type of privilege, which is a special legal right or exemption granted to a person or group of people. Privileges can protect someone from liability or exempt them from certain duties.A more thorough explanation:
Definition: Tax-return privilege is a legal right that allows a person to refuse to disclose the contents of their tax return or related documents. This privilege is based on the public policy of encouraging honest tax returns.
Example: John is being audited by the IRS and is asked to provide copies of his tax returns for the past three years. He can assert the tax-return privilege and refuse to disclose the contents of his tax returns.
Explanation: The tax-return privilege allows individuals to keep their tax information confidential and protects them from being forced to disclose it. This privilege is important because it encourages people to file honest tax returns without fear of their information being used against them. In the example, John can assert the tax-return privilege and refuse to disclose his tax returns to the IRS.