Related Tax Questions
Is the federal income tax a progressive tax or a regressive tax?
A progressive tax is when the government imposes a tax code that allows them to charge higher taxes to those who have a lot of income, while charging a lower rate to those with a lower income. A regressive tax is when the complete opposite happens. The go... Read More
What is proportional tax and what is regressive tax and an example of each?
A proportional tax is a tax that takes income from all income groups so that the income tax rate is fixed. The amount that is...... Read More
What kind of tax is a poll tax?
A poll tax acts differently than other taxes. Taxes like income tax, sales tax, and others depend on the value of what is being taxed. For...... Read More
What tax do wage earners pay to the federal government?
The tax that all wage earners are required to pay to the federal government is the federal income tax. This tax is required by law to...... Read More
What are the advantages and disadvantages of inheritance tax?
The inheritance tax is a tax that is only imposed in six states, that initiates a tax rate against the inheritance of a beneficiary from...... Read More
Can I receive a tax refund greater than what I paid in?
A tax refund is treated like a payment of tax you made during the year. You get the credit, even if you do not owe tax.... Read More
What is the pay-as-you-go system of tax collection?
The pay-as-you-go system of tax collection obviously differs from the normal system of tax collection because instead of...... Read More
How far back can you go to get state income tax refund?
Tax refunds are the best part about filing and paying your taxes. Every year, depending on if your tax estimate is more or less than your actual...... Read More
What was internal tax?
The internal tax was prevalent during the Colonial America times, during the 17th and 18th centuries. An internal tax was...... Read More
How long should you keep tax records?
Tax records are important because they can be used for you, and even against you in a court of law. Tax records prove how...... Read More
Do states with no income tax like Texas have to pay deferred money to baseball players?
Texas is one of nine states that does not enforce a mandated state income tax for its citizens. Instead the tax rates in all other areas are higher...... Read More
What are the advantages and disadvantages of excise tax?
An excise tax, sometimes referred to as a sin tax, are taxes that are imposed on specific goods when they are purchased. They are... ... Read More