People can pay tax {income tax}| on wages, salaries, interest, capital gains, gifts, bequests, tips, and other income.
withholding
Employers typically send part of paychecks to government {withholding, income}.
date
USA income tax is due on April 15, for preceding fiscal year.
form
USA national income tax form {Form 1040} {1040 Form} has various lettered supplements, used for calculating deductions and taxes on businesses, rentals, royalties, interest, dividends, capital gains, child care, and moving.
statements
In January, USA W2 form shows wages or salaries paid and deductions taken by employer. This form must accompany the 1040 tax form. Statements of income from banks, mutual funds, and companies {form 1099} {1099 form} do not need to accompany tax form.
rate
Income tax rate varies from 0% to 36% for federal government and from 0% to 12% for state government.
Practical Affairs>Financial Affairs>Tax>Kinds
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Date Modified: 2022.0224