Frequently Asked Tax Questions

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If your car gets repossessed and you choose not to pay for it can they take your tax return?
For most states, no your tax refund cannot be taken away and used as payment of your repossessed car if you decide not to pay for it; however, the lender can...... Read More
What is taxation and why does it happen?
Taxation is the basis for how the government is able to operate the country in which they are appointed to do so. It is what pays for...... Read More
What is the IRS and what do they do?
The IRS stands for the Internal Revenue Service and it stands as the official revenue service of the United States Federal Government. They are a...... Read More
What happens if you dont pay your taxes?
If you fail to pay your taxes, or even fail to file them altogether, the consequences could be dire. First and foremost, you receive...... Read More
Do you have to pay taxes?
Taxes are the backbone that allows the government to maintain a stable society and infrastructure. It is the primary source of... ... Read More
What is federal/state income tax?
When you are an employee of a company, perform a service to someone, and/or sell an item to another person you are...... Read More
What does tax money get spent on?
Tax money is spent on pretty much everything you see around you. It pays for the public roads and highway systems, public and national...... Read More
How do you calculate taxes?
Taxes work in many different ways, and come in many different forms. There are the federal and state income tax, property tax, estate...... Read More
What percentage of taxes do people pay no matter what there income may be?
This question can be answered in many ways. First and foremost, the percentage of taxes you owe to the IRS every year is determined entirely...... Read More
How can you file taxes online yourself?
Doing your own taxes by yourself is actually easier than most people think, but it does require strict following of instructions or else...... Read More
What tax do wage earners pay to the federal government?
The tax that all wage earners are required to pay to the federal government is the federal income tax. This tax is required by law to...... Read More
What are the different types of taxes?
There are many different types of taxes that we pay on a yearly basis. Although there are really only two big categories: personal and business, there are...... Read More