Tax Fears - Taxes can be very scary and
intimidating. As longs as you are diligent in your
preparation and filings, you should have no concerns
about the process and the outcomes.
Who Has to File? - The majority of Americans have to
file taxes. However, there are exceptions. Review the
criteria that will exclude from having to submit a tax
return.
Can't Pay Your Taxes? - If you do not have the money
to pay all of your taxes, you still need to make sure
that you file your return on time. Pay as much as you
can. The penalty for not filing is 5%/month of the
amount you owe compared to .5%/month of your balance for
not paying in full.
Record Keeping - Determine what documents need to be
kept and for how long.
Marriage - Depending on how much money you earn will
determine whether or not is beneficial to file jointly,
or not.
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