Why do we need taxes?
When you work at a job to make money, you pay income taxes. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks. Taxes are also used to fund many types of government programs that help the poor and less fortunate, as well as many schools!
Why we need to pay tax to the government?
They use the receipts to fund essential expenses like defence, police, judiciary, public health, infrastructure etc. Generally speaking, we can say that the tax money is used to fund recurring and non-recurring expenses of the country. Recurring expenses can be like salaries paid to government servants etc.
Do we really have to pay taxes?
The Law: The requirement to pay taxes is not voluntary. Section 1 of the Internal Revenue Code clearly imposes a tax on the taxable income of individuals, estates, and trusts, as determined by the tables set forth in that section.
Who needs to pay income tax?
Who Are The Tax Payers? Any Indian citizen aged below 60 years is liable to pay income tax if their income exceeds 2.5 lakhs. If the individual is above 60 years of age and earns more than Rs. 3 lakhs, he/she will have to pay taxes to the government of India.
Is it illegal to pay tax?
Taxation is an unlawful seizure of property, and thus violates the 5th Amendment. The Constitution grants the government the right to levy a tax, and this has been upheld by both Phillips v. Commissioner and Brushaber v. Union Pac RR.
Is it illegal to not file a tax return?
It’s illegal. The law requires you to file every year that you have a filing requirement. The government can hit you with civil and even criminal penalties for failing to file your return.
Do I need to pay taxes?
Generally, if your total income for the year doesn’t exceed certain thresholds, then you don’t need to file a federal tax return. The amount of income that you can earn before you are required to file a tax return also depends on the type of income, your age and your filing status.