Is "Federal" tax the same as "U.S. Individual Income" tax?

Question

The amount that my accountant projected a couple of months ago for what he said were my "Federal" taxes due is quite a bit higher than what he ended up sending in to the IRS. They're also not called "Federal" they're called "Individual Income Tax." Are they the same thing?

I do have my own LLC.

Answer 1

Yes, "federal" means the IRS, the national one. You might also have a state income tax, and maybe a local one also.

Answer 2

Well, in your case, yes. However, they are not interchangeable because the "Federal" tax applies to businesses, corporations, partnerships, etc, and not just individuals. Each individual has to pay Federal income taxes and depending on where you live, usually State income taxes.

Answer 3

If you worked and don't own a small business, then you will pay an "individual income tax". These taxes that you pay are "federal" taxes; taxes that you pay to the federal government. So for your "individual income tax" you pay "federal" taxes to the federal government.

Answer 4

Liberals have constantly sought to regulate the language so as that they might sell immorality. they have faith interior the 0-sum-income concept of economic costs. additionally they have faith stealing funds from the wealthy, facilitates the detrimental truly, stealing funds from the wealthy creates extra poverty as a results of fact the wealthy in simple terms decrease returned on the products and centers they purchase. interior the long-term it slows the economic equipment plenty, the government takes in much less funds. the government then has to spend funds to repair the damages it reasons with extra suitable taxation. i comprehend this point of economic concept is misplaced on liberals, yet I did desire to respond to your question. in accordance to the 0-sum-income concept, a greenback spent with the aid of the detrimental vanishes into the wallet of the wealthy who's made wealthy with the aid of preying upon the detrimental and center training. It ignores the reality, the wealthy then spends the greenback on products and centers presented with the aid of the detrimental and center classification and pays their wages. The liberal actually feels justified in stealing funds from the wealthy and giving a factor to that funds to the detrimental. that's how the liberals think of they must pay, for tax cuts. they have faith the detrimental won't get the help they choose, if wealthy human beings get tax cuts. of course, people who've been abode-schooled see interior the process the logical flaws the place maximum folk of public college lemmings do no longer.