Which of the following is NOT a benefit of filing income tax returns?

Which of the following is NOT a benefit of filing income tax returns?

Step 1: Understand what a benefit is. A benefit is something that helps you or is good for you.
Step 2: Know what filing income tax returns means. It means you report your earnings to the government and pay taxes on them.
Step 3: Think about the benefits of filing income tax returns. Some benefits include getting a tax refund, qualifying for loans, and avoiding penalties.
Step 4: Identify what is NOT a benefit. Increased tax liability means you owe more money, which is not a good thing.
Step 5: Conclude that increased tax liability is NOT a benefit of filing income tax returns.

No concepts available.