Simple definition of tax

Free for Simple Tax Returns. Maximum Refund Guaranteed. Tax definition, a sum of money demanded by a government for its support or for specific facilities or services , levied upon incomes , property , sales , etc. Tax definition is - a charge usually of money imposed by authority on persons or property for public purposes.

How to use tax in a sentence.

No-one enjoys paying tax. They are calling for large spending cuts and tax increases. Tax is money that people have to pay to the government. The government uses the money it gets from taxes to pay for things.

For example, taxes are used to pay for people who work for the government, such as the military and police , provide services such as education and health care , and to maintain or build things like roads , bridges and sewers. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expenditure.

One of the most important uses of taxes is to finance public goods and services, such as street lighting and street cleaning.

A tax designed to collect at least a minimum amount of tax from taxpayers who benefit from the tax laws that give special treatment to certain kinds of income and allow deductions and credits for certain kinds of expenses. A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. An example of a tax is a portion taken out of weekly paychecks and sent to the government. Tax is a required payment on goods , property , etc.

Industry-Specific Deductions. Get Every Dollar You Deserve. Connect With A Live Tax CPA. Available Nights And Weekends. A simple federal income tax return is one with almost no options.

That is, if you are old enough to pay taxes. Taxes are ways that the government can collect money from its citizens to pay for things that the people nee like schools and roads. School buses, textbooks, and buildings are paid for by tax money.

A tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxation, imposition of compulsory levies on individuals or entities by governments.

Taxes are levied in almost every country of the worl primarily to raise revenue for government expenditures, although they serve other purposes as well.

Taxation is the system by which a government takes money from people and organizations and spends it on things such as education, health, and defense. The plan would allow individuals to exclude from taxation percent of their gain from the sale or exchange of long-held assets. Definition of taxation: A means by which governments finance their expenditure by imposing charges on citizens and corporate entities. Governments use taxation to encourage or discourage certain economic decisions.

Excise tax definition is - a tax on certain things that are made, sol or used within a country : excise. Basic concepts by which a government is meant to be guided in designing and implementing an equitable taxation regime. These include: (1) Adequacy: taxes should be just-enough to generate revenue required for provision of essential public services. Broad Basing: taxes should be spread over as wide as possible section. Access IRS Tax Forms.

Complete, Edit or Print Tax Forms Instantly.