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  2. Schedular system of taxation - Wikipedia

    en.wikipedia.org/wiki/Schedular_system_of_taxation

    The levies to tax on income were originally set out in Schedules to the Income Tax Act. In the case of United Kingdom corporation tax, they remain for companies charged to that tax, and in the case of United Kingdom income tax, many, but not all remain. In the United Kingdom the source rule applies. This means that something is taxed only if ...

  3. Tax information reporting - Wikipedia

    en.wikipedia.org/wiki/Tax_information_reporting

    The tax information return most familiar to the greatest number of people is the Form W-2, which reports wages and other forms of compensation paid to employees. There are also many forms used to report non-wage income, and to report transactions that may entitle a taxpayer to take a credit on an individual tax return.

  4. Tax returns in the United States - Wikipedia

    en.wikipedia.org/wiki/Tax_returns_in_the_United...

    Gross income includes most kinds of income regardless of whether the income arises from legitimate businesses. Income from the sale of illegal drugs, for example, is taxable. Many criminals, such as Al Capone, are indicted not only for their non-tax crimes, but for failure to file Federal income tax returns (and pay income taxes).

  5. Every Tax-Filing Status Explained - AOL

    www.aol.com/every-tax-filing-status-explained...

    The status also impacts the standard deduction — the amount by which you can adjust your gross income if you don’t itemize your deductions — that you can receive on your federal tax return.

  6. How Tax Filing Status Relates to Deductions in 2021 and 2022

    www.aol.com/tax-filing-status-relates-deductions...

    Standard deduction: Single taxpayers are eligible for a $12,550 deduction for the 2021 tax year and a $12,950 deduction for the 2022 tax year. Married Filing Jointly

  7. State income tax - Wikipedia

    en.wikipedia.org/wiki/State_income_tax

    In addition to federal income tax collected by the United States, most individual U.S. states collect a state income tax. Some local governments also impose an income tax, often based on state income tax calculations. Forty-one states, the District of Columbia, and many localities in the United States impose an income tax on individuals. Nine ...

  8. Income tax - Wikipedia

    en.wikipedia.org/wiki/Income_tax

    An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income.

  9. Tax withholding in the United States - Wikipedia

    en.wikipedia.org/wiki/Tax_withholding_in_the...

    Withheld income taxes are treated by employees as a payment on account of tax due for the year, [7] which is determined on the annual income tax return filed after the end of the year (federal Form 1040 series, and appropriate state forms). Withholdings in excess of tax so determined are refunded.