Taxes are a few of the most essential things a country or nation must impose on its citizens to be able to progress. Taxes are charges charged by the government to people and businesses. However no matter how strict the government is in implementing tax, there are still some individuals who won’t pay. What are the results of this?
CRIMINAL CHARGES – When an individual refuses or forgets to file his earnings tax, criminal costs may be filed against him. These criminal fees might end in imprisonment plus fines or fines alone. The United States law says that if a person is unable to file for revenue tax for one yr, she or he will be fined $25,000 per 12 months of non-payment and will be imprisonment for one year.
LIMITED GOVERNMENT FUNDS – Although the cash you will be paying as taxes to the government could seem small compared to its overall standing, it will still matter greatly for the country’s growth and development. Thus, a person who doesn’t pay his taxes is, in essence, taking something away from the government and from the people.
Alternatively, when people pay their taxes, the next are a very powerful benefits they and the nation itself enjoy.
DEFENSE AND SECURITY
The money the federal government spends to provide protection and security to its people comes from the taxes that persons are paying. In the United States, nevertheless, defense and security cover not only the US however the whole world community. For instance, the government is sending 1000’s of troops everywhere in the world to maintain world peace and these troops require billions of dollars to hold out their tasks.
MAINTENANCE
One other use of taxes is to keep up the roadways, buildings, and architectural constructions owned by the government. Many roads across the country are being fixed and government buildings all over the country are also being renovated, and furnished for the benefit of the citizens of the country.
SOCIAL SECURITY
Twenty % of the federal government’s funds 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 folks of the country.
Knowing your taxes, understanding what they’re and paying them are all part of being a responsible citizen. And we always owe it to ourselves to pay our dues.
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