2007-03-09 04:15:10 · 5 answers · asked by Papi M 1 in Business & Finance ➔ Taxes ➔ United States
They used to wait but people started spending the money they should have been saving for their tax bill so the government instituted our current tax collection procedure where you make a year end accounting of all income and true up your tax situation with the government, whether it be return, paying, or just enough (the best in my opinion).
2007-03-09 05:13:58 · answer #1 · answered by R Worth 4 · 1⤊ 0⤋
1. need to pay my salary during the year
2. even if you get it all back as a refund we earn interest on your money
3. taxpayers don't realize how much money the federal government really takes from them this way. if you wrote a check once a year you would:
a. Have spent the money already
b. Have a cow when you write the check
4. many people (many illegal aliens) have taxes withheld, never file a return and eventually we keep it all
2007-03-09 16:13:19 · answer #2 · answered by RAG 2 · 0⤊ 0⤋
They do, in a way. If you do your taxes and you determine that you owe the Federal Government more tax, you can wait right up until April 15th to file your tax return, and the accountants and tax advisors would recommend that you wait right up until the deadline to send in your return.
2007-03-09 12:23:46 · answer #3 · answered by sarge927 7 · 0⤊ 1⤋
They collect taxes all year long! There is withholding from paychecks & estimated tax payments from individuals and businesses.
I don't understand your question. They are always collecting taxes because they need to run the government.
2007-03-09 12:43:30 · answer #4 · answered by ? 4 · 0⤊ 0⤋
They collect perpetually. When you get paid, they get paid. It's called a withholding from pay.
If you work for yourself, you're required to make periodic deposits through the year.
This is called "cash basis". You pay your taxes when you have the wherewithal to pay (when you have cash in hand).
2007-03-09 12:19:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋