2007-01-07 17:28:02 · 7 answers · asked by nobleone6969 1 in Business & Finance ➔ Taxes ➔ United States
They have tax tables based on your income, family size with different deductions you can make on other variables.
2007-01-07 17:31:00 · answer #1 · answered by Frank R 7 · 2⤊ 0⤋
The U.S. government allows individuals to figure out their own taxes based on deductions in some cases or a more standard 1040 form in others. Most workers have taxes taken out as they get paid. Self employed persons are supposed to make quarterly payments.
Most returns are accepted as complete and accurate. A small percentage (1-2%) are audited. Your chances for an audit are higher if you are self employed, and higher still for certain professions.
25% of income tax is used to keep the IRS going.
2007-01-08 01:32:39 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Everybody that pays you, reports it to the IRS as a business expense & the IRS computers do the calcs.
If you engage in any illegal activity , when you get busted, the IRS estimates how much you made & the computer calculates how much you owe. (Al Capone went to prison for failure to pay taxes on his bootleg liquor - but that was before computers so they had to figure it out by hand)
2007-01-08 01:39:39 · answer #3 · answered by kate 7 · 0⤊ 0⤋
they take into consideration your marital status, how many dependants you claim (how many fleas you feed) and last but hardly the least, How much money you grossed for the enitre last year (what you made before your boss deducted (remitted for you) for taxes, social security, medicare and disability insurances).
if you didn't work or were in the military, are exempt from taxes (native american, ect) or even if you collected unemployment, you still might have to file a tax return regardless of your income.
2007-01-08 01:41:08 · answer #4 · answered by srgofcb 2 · 0⤊ 0⤋
Percent of what you make or have.
For example: the property tax is based on what you own. They will send you a paper to fill out. It asks how many cars you have, how much land you have, livestock you own, trailer, airplane, etc...
The Income tax is what it sounds like...Tax on your Income. % of what you make...
The government doesn't figure it out. The government has guys that figure it out.
2007-01-08 01:30:02 · answer #5 · answered by Mafia 4 · 1⤊ 0⤋
First they will ask how much you made. Then they will ask you to send it to them.
2007-01-08 01:32:56 · answer #6 · answered by coka-ko-lah 3 · 2⤊ 0⤋
very carefully...
2007-01-08 01:29:21 · answer #7 · answered by y.thelastman 1 · 0⤊ 0⤋