52. One Country, Many Taxes
Taxes are special fees charged by a government
the people who live in a country, state
city. These fees help pay for public services
police, road and bridge repair, and public schools.
the United States people have to pay national,
, and local taxes. Income tax is a tax
to how much money a person earns in
year. There are both federal and state income
. These have to be paid every year by
15th. There are special forms the Internal Revenue
(IRS), the government agency in charge of collecting
, asks people to fill out. There are tax
that people with low income, college students, and
can get. These credits could mean actually getting
back from the government. This money is called
tax refund. People can get both a federal
state tax refund. Anyone who works has to
taxed regardless of the immigration status. Not paying
taxes could mean a fine or even jail
.
Payroll taxes are taxes that are taken right
of a person's paycheck. There are federal and
payroll taxes. These include Social Security and Medicare
. Social Security taxes pay for the retirement and
benefits received by millions of Americans each year.
taxes pay for the federal health insurance program
covers the elderly and the disabled.
People who
houses pay property taxes. The amount paid depends
how much the property is worth. This tax
usually paid once a year. Sales tax is
tax almost everyone pays. Sales tax is a
extra percentage charged on nearly all purchases. Everything
soap to furniture has a sales tax attached
bought. The amount of the sales tax is
across states and cities.
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