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If there is no law that says you have to pay income tax then why do you pay?
Wiki User
∙ 11y ago
Yes. The Revenue Act of 1913, made under the power bestowed by the 16th Amendment. The current version is published as Title 26 of the United States Code, and as The Internal Revenue Code.
Wiki User
∙ 11y ago
Income tax is required by law in most countries to fund government services, infrastructure, and programs. Not paying income tax can result in penalties, fines, and legal consequences. It is a civic duty to contribute to the functioning of society.
Wiki User
∙ 11y agoThe question pre-supposes something that is not true.
There is a law that says Americans have to pay income tax (the Revenue Act of 1913), and there is an amendment to the Constituion of hte US that gave Congress the power to make that law (the 16th Amendment).
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What tax has individuals corporations legal entities?
Individuals typically pay income tax, while corporations pay corporate income tax. Legal entities such as partnerships or LLCs may be taxed differently depending on how they are structured, but may also be subject to income tax. Additionally, all entities may be subject to other taxes such as sales tax, property tax, or payroll taxes.
What Is No Income Tax Law?
A no income tax law is a policy where individuals or businesses are not required to pay taxes on their income to the government. This means that they do not owe any taxes based on their earnings, which can have implications for government revenue and social programs that rely on taxes. It is a unique tax policy approach that can impact a country's financial system.
You're most likely to pay your country or town taxes in the form of an tax?
income tax
What law introduced a version of the modern income tax on personal earnings?
The 16th Amendment to the United States Constitution, ratified in 1913, introduced the modern income tax on personal earnings. This amendment granted Congress the power to levy an income tax without apportioning it among the states based on population.
Does a fourteen year old have to pay taxes?
In the United States, individuals who are under 18 years old are generally not required to file their own tax return if their income is below a certain threshold. However, if a 14-year-old has earned income, they may still need to file a tax return to report and pay taxes on that income. It is recommended to consult with a tax professional or the IRS for specific guidance.
Why should income tax be paid?
If a person meets the legal requirements to pay income tax and does not, he is in violation of the law.
Do the wealthy pay income tax?
The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.
Does Finnish citizen pay income tax?
According to the law, they do. Ofc some don't.
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
What law says you have to pay income tax?
The Revenue Act of 1913.And thhe income tax code IS law, Chapter 24 of the US Laws, as made, voted on by Congress and signed by the President.The 16th amendment of the Constitution also addresses the right to make the laws doing so, although it in itself is not a law saying one has to pay.
If you live in a state that does not have a state income tax and work in a state that does have a state income tax are you obligated by law to pay state income tax to the other state?
Yes..only on that portion of income properly allocated or attributable to that State.
Do professional punters pay income tax?
all people pay income tax.
If you live in a state that does have a state income tax and work in a state that does not have a state income tax are you obligated by law to pay state income tax to your home state?
From personal experience, if you live in Oklahoma and your workplace is in a different state, you are obligated pay Oklahoma state income taxes on those wages. This is probably true for all other state income tax states.
What do you pay income tax on?
Could it be your income??
Do you need to pay monthly and quarterly income tax even though you have paid the annual income tax?
yes we have to pay tds and advace tax beside anual income tax
Who is responsible for collecting income tax?
The Income Tax Board is responsible for collecting our income tax… it says in the name people!
Do you pay income tax on inheritance?
No Federal income tax due on inheritance.
