A filer simply refers to an individual or company that has to file Form 700 and Form 700A. This could be a sole proprietor, a self-employed person, an individual, or a corporation.
It is important to realize that a person filing taxes is not the same as an individual who is paying taxes
As in school, you might be asked to do a paper, handwriting, reading, expression, and logic test. This is why it is useful for the filer and the client to work out an agreement in advance.
The state or province where the filer lives will dictate the amount of information that is needed.
The more a filer does either: a transaction, a collection, a require purchase, a require sale, a require lease, or a cycle, the more he is in the business of collecting.
For example, if a personal brokerage firm has been traded on a licensed market since mid 2015, they are considered a business. However, one must file a separate statement if he trades as a sole proprietor or a partnership, the filer ought to register with the “Flist” association, and he decides that extra file for yearly tax will help with his tax filing and consulting fees.