Taxes are a part of life for many people. When tax season comes around, taxpayers are often used to organizing their information, filing tax returns and waiting for any tax refunds. But not everyone may understand what taxes are—or why individuals and businesses have to pay them. This guide...
If you finish your tax return and are confused as to why you need to send the IRS a check, there is only one possible explanation for this: you paid less tax during the year than you owed for your income level. Watch this video to find out more about why
Some people believe that they should be able to keep all the money they earn and should not pay tax to the state. To what extent do you agree or disagree? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at least 250 words. Task...
While some states may pay companies for processing and remitting sales taxes promptly, others do not. We paid Ontario Canada sales taxes from 1978 when we opened our shop until we closed it in 2014. We were allowed to deduct a small amount of the tax for getting the paperwork in on t...
that could interporate tax law. Will be calling Ebay when they are open. Your buyers pay SALES tax; you would pay INCOME tax. Strange that your accountant and your state tax representative don't understand the difference; you should probably replace both ...
Do I have to pay excise taxes? Excise taxes are independent of income taxes. Often, the retailer, manufacturer or importer must pay the excisetax to the IRS and file the Form 720. They may pass the cost of the excise tax on to the buyer. ...
2. Extra time to pay taxes you owe If you owe a balance due to the IRS, you may still have a good reason to file your tax return as soon as you can. If you submit your return in the middle of January, you do not have to pay taxes you owe until thefiling deadline.Preparing yo...
Answer to: Why do we not have flat tax by dollar? I mean divide the federal and state budget by the US population so that each person pays equal...
File your Self Assessment tax returns on time. Late filing can trigger an HMRC investigation. Sign up to a free trial of GoSimpleTax today. Blog content is for information purposes and over time may become outdated, although we do strive to keep it current. It's written to help you under...
Why Do We Pay Taxes? Taxes are the primary source of revenue for most governments. Among other things, this money is spent to improve and maintain public infrastructure, including the roads we travel on, and fund public services, such as schools, emergency services, and welfare programs. ...