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Do you have to pay taxes each year?

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Is a 94 year old exempt from paying taxes?

That would be a great birthday present, but no such luck. There are no start or stop ages for paying taxes. Anyone of Amy age who has taxable income may have to pay tax. It

Do you pay taxes on a IRA at withdrawal or at end of tax year?

This would be your choice and depending on your filing status and other information and the amount taxable amount of the distribution and your age you will have make this deci

Does a 16 year old pay tax on savings?

  UK Answer   Anyone who is a 'taxpayer' in the UK has to pay tax on interest earned. If the 16 year old is in full-time employment or is earning other sums then they

How many people pay taxes each year in the US?

There were 131,113,969 returns filed in 2004. Of those who filed, 42,545,501 (32.4%) had zero tax liability. This is estimated to increase to in excess of 40% in 2009. A filer

Approximately how much money does the average American citizen pay in taxes each year?

According to the Tax Foundation, a nonpartisan organisation, the average American pays an average tax rate of 12.60% percent on their income as of 2008.   According to th

Why does the government asks employers to withhold tax money from each paycheck instead of requiring taxpayers to pay a full years taxes all at once?

  First, even many, many of those people who had withholding from paycheck throuh the year, and then find they are a little short of what they ultimately owe (for whatever

Do you have to pay taxes after ten years?

  The IRS has a ten year statute of limitations to collect taxes, generally. This ten year clock starts running when the tax is originally assessed (when you file a return