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Filing Taxes Doesn't Have to be Taxingfrom:
Except for a few odd individuals and the professional tax preparer, filing taxes have never really been anybody's idea of party time fun. Nonetheless, filing taxes are an obligation of the working adult's life. Nearly every country in the world has some form of tax system in place. In fact, there have been quite a few tax systems set in place throughout the world's history and all have faced criticism at some level. However, without collecting these revenues many facilities, programs and services that the population depends on, at both federal and state levels, would be impossible to keep running.
While there are different requirements between the two, it is still the responsibility of an individual or corporate entity to accurately and truthfully report all of their income when filing taxes. Otherwise, the appropriate tax codes cannot be applied, resulting in an overpayment or underpayment. An underpayment of taxes can lead to an unexpected and surprising tax bill with an accrual of interest. Any intentional efforts to present misleading information about one's income can lead to stiff fines and penalties, including imprisonment for the most deliberate cases. However, simple mistakes can and do happen and can be rectified rather easily.
The vast majority of citizens are honest, law abiding individuals who file their taxes on time. However, changing life situations such as divorce, death and illness can sometimes complicate filing taxes. No matter where one's life situation is at, if the minimum income requirement is met there is no reason not to file. Oftentimes, an individual can be caught off guard when their tax situation changes. What used to result in a refund may now require the filer to pay in and vice versa. Even if the filing dead line is missed, the general rule is that it is never too late to file taxes. The sooner one works to clear up any type of inconvenient tax situation, the better off that person will be.
Luckily, there has been great effort to help the average citizen with filling out what used to be long frustrating forms and deciphering confusing directions. Short forms with easy to follow instructions are now available and there is also the option of filing taxes using self guided online filing programs. Whether using one of the more popular programs or opting for the filing program provided by the IRS, individuals can get their returns filed easily and in a timely manner. Though most individuals and businesses still rely upon the help of a professional, most of these returns are still filed electronically.
Sales Taxes Tamilnadu News
Prohibition in Tamil Nadu: Will it work? - Daily News & Analysis
Daily News & Analysis
Prohibition in Tamil Nadu: Will it work?
Daily News & Analysis
In Tamil Nadu, the wholesale and retail sale of alcoholic beverages is a monopoly of the Tamil Nadu State Marketing Corporation (Tasmac), a company owned by the state government. In 2015, it was reported that more than a quarter of Tamil Nadu's tax ...
Tamil Nadu's experiments with liquor ban - The Hindu
Tamil Nadu's experiments with liquor ban
In order to compensate the loss incurred, sales tax was introduced by the Congress government headed by C. Rajagopalachari aka Rajaji. The government would grant 'permits' to individuals, who wish to consume liquor. After the first general elections ...
Tamil Nadu assembly polls: Jayalalithaa promises prohibition in state if re-elected
The long and twisted history of prohibition in Tamil Nadu
In Tamil Nadu, AIADMK and DMK promise voters a total prohibition
Parag Milk Foods coming with an IPO to raise around Rs 769 crore - Mint Market Info
Parag Milk Foods coming with an IPO to raise around Rs 769 crore
Mint Market Info
A significant portion of its product range includes long shelf-life food and beverage products that enable it to sell its products to retail and institutional customers across India. It derives all of its products only from cows' milk. The company's ...
Don't bar TASMAC, regulate it - The Hindu
Captain's word: Farmers on foreign junkets, petrol for Rs 45 only - Times of India
Times of India
Captain's word: Farmers on foreign junkets, petrol for Rs 45 only
Times of India
"Even if they cut sales tax to zero, petrol price won't come down to Rs 45.Doing that would be suicidal, for petrol, after liquor, fetches the state its single-largest tax earning," says R Srinivasan, associate professor in econometrics, Madras University.