Importance of Proof of Income Tax Returns

Are you applying for a loan, mortgage or visa and need to provide proof of income tax returns? Don’t worry; we’ve got you covered. In this guide, we’ll discuss the different types of tax returns that can serve as proof of income and also, how to obtain them. We’ll also try to cover the specific requirements for loan & rental applications and provide tips to ensure you have the necessary documentation to support your applications with ease.

What Counts as Proof of Income Tax Returns?

depending on the country you’re in

proof of income tax returns
  • 1040: This is the standard individual income tax return form used by US taxpayers to report their income, deductions, and credits to the Internal Revenue Service (IRS).

  • W-2: This form is provided by employers to their employees and shows the amount of money earned, taxes withheld, and other payroll-related information.

  • 1099: This form is used to report various types of income, including self-employment income, rental income, and investment income, among others.

proof of income tax returns
  • P60: A document that shows your total income and the amount of tax you’ve paid over the tax year.

  • P45: A document that your previous employer gives you when you stop working for them. It shows how much you’ve earned and how much tax you’ve paid.

  • SA302: A document that shows the income you’ve declared on your tax return for a specific tax year.

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The document containing records of an individual’s pay, including gross pay, taxes, and other deductions.

It can be used to estimate an individual’s income using records of deposits, withdrawals and other transactions.

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