Taxes are used to pay for all the services and obligations of the government they go to.
Some are earmarked for certain things, (like social security payments), some are put in a general fund, where they are used for many things (paying for the armed services as an example, aid to the needy, maintaining property, etc).
The government does not make money in the sense a business does. it cannot really turn a profit....as it only has expenses it must pay. If it has extra income from taxes (which generally doesn't happen), it would use those funds to lower taxes the next year.
Taxable income is the amount on your 1040 federal income tax return page 2 Line 43 and is used to determine the correct amount of your federal income tax liability for the tax year 2010 after your income tax has been completed correctly to line 44 $$$$????
Federal income tax is a direct tax on income and not an indirect tax. Direct taxes are paid directly to the government.
The amount of withheld federal income tax that is returned to you depends on a variety of factors. Your yearly income, marital status, number of dependents, and expenses are all used to calculate your tax return.
use Form 941-V to make federal tax deposits
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
progressive tax
federal income tax people
Taxable income is the amount on your 1040 federal income tax return page 2 Line 43 and is used to determine the correct amount of your federal income tax liability for the tax year 2010 after your income tax has been completed correctly to line 44 $$$$????
The federal personal income tax is an example of progressive tax.
The taxable amounts of the income from each income tax return will be taxed at the tax rates for the state and for the federal.
Federal income tax is a direct tax on income and not an indirect tax. Direct taxes are paid directly to the government.
Not all income tax goes to the Federal reserve but all money that goes to the Federal reserve comes from income tax.
The U.S. federal income tax is an excise tax, imposed on the privilege of earning income, the source of which has a nexus to the federal government. The amount of such earnings is not itself the subject of the tax but is used to measure the tax to be paid.
this is a question when is the last day you can send in federal income tax
No, when filing for the federal income tax return, you do not attach the Schedule A for the state income tax return.
Federal income tax can increase staffing due to the need of a write off. Federal income tax can also encourage staffing limitations due to the employers tax.
The authority to levy a federal income tax comes from