The 2-Day ITR is a document used to report information about the taxpayers’ earnings and taxes to the BIR. A taxpayer’s tax liability is computed using their income. If the return reveals that the individual paid too much tax during the year, the taxpayer will be eligible for an income tax refund from the BIR. Anyone who makes money must file an ITR, and only a few people are exempted: minimum wage earners and those earning less than P 250,000 per year.