Taxes are a few of the most vital things a country or nation must impose on its citizens in an effort to progress. Taxes are fees charged by the federal government to people and businesses. But regardless of how strict the federal government is in implementing tax, there are still some people who won’t pay. What are the results of this?
CRIMINAL CHARGES – When an individual refuses or forgets to file his earnings tax, criminal fees could also be filed against him. These criminal expenses may lead to imprisonment plus fines or fines alone. The United States law says that if a person is unable to file for income tax for one 12 months, he or she will be fined $25,000 per 12 months of non-payment and will be imprisonment for one year.
LIMITED GOVERNMENT FUNDS – Though the money you will be paying as taxes to the government could appear small compared to its general standing, it will still matter greatly for the country’s progress and development. Thus, an individual who doesn’t pay his taxes is, in essence, taking something away from the government and from the people.
Alternatively, when individuals pay their taxes, the following are an important benefits they and the nation itself enjoy.
DEFENSE AND SECURITY
The cash the government spends to provide defense and security to its individuals comes from the taxes that persons are paying. In the United States, nevertheless, protection and security cover not only the US however the complete world community. For instance, the federal government is sending thousands of troops all over the world to keep up world peace and these troops require billions of dollars to carry out their tasks.
One other use of taxes is to take care of the roadways, buildings, and architectural constructions owned by the government. Many roads throughout the country are being fixed and government buildings all around the country are also being renovated, and furnished for the benefit of the citizens of the country.
Twenty p.c of the government’s budget goes to social security which covers retirement benefits, benefits for spouses of deceased workers, disability benefits, and child survivor benefits. Social security requires billions of dollars to proceed serving the individuals of the country.
Knowing your taxes, understanding what they are and paying them are all part of being a accountable citizen. And we always owe it to ourselves to pay our dues.
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