Question

Each of the following correctly describes individual income taxes Except? a tax returns must be filed only by those who are self employed b tax collection is based on a pay-as-you-earn system c The Internal Revenue Service (IRS) is responsible for collecting income taxes

Answer 1

Each of the following correctly describes individual income taxes Except- tax returns must be filed only by those who are self employed. Even if you are not required to file taxes, you may wish to do so in order to qualify for tax credits as well as other benefits.

The need to file income taxes is determined by four factors: your earnings, filing condition, age, and whether you have a special circumstance. Even if you are not required to file taxes, you may wish to do so in order to qualify for tax credits as well as other benefits. The Internal Revenue Service (IRS) is the revenue service for the federal government of the United States that is in charge of collecting federal taxes. Pay as you earn (PAYE) is a repayment or withholding scheme that makes deductions incrementally as paychecks are received. Employees who choose automatic withholding view pre-payments made to governmental and/or state tax authority with each paycheck.

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