Tax is a financial fee charged by a government to meet some meant for the advancement of the country. Every nation has different structure of taxation. The states levy taxes on all sorts of earnings, be it income tax or sales tax or corporate tax. Each individual and institution is legally bound to pay taxes to the nation. It leads to a criminal offense, if the taxes remain unpaid. Certain countries have limits under which you are not liable to pay tax. If your income does not exceed the slated limit, you will get exemption from paying income taxes. However, you remain liable to pay other types of taxes, such as sales tax, custom duty, certain tolls etc. In the USA, the Internal Revenue Service (IRS) collates federal income tax. IRS is a branch of the US treasury. Federal income tax has to be paid irrespective of the place you live in the USA.
However, there are also some states in the US, which levy state taxes additionally. Barring states like Texas, Washington, South Dakota, Nevada, Alaska, and Wyoming, no states charge any state tax. However, they do collect taxes from some other ways; e.g., the taxes for property, sales etc. will be higher. A tax year is counted from the 1st of January to the 31st of December. A US citizen has to file his/her income tax return by April 15. Exceptions to the deadlines may slightly vary from state to state. But overall, it remains the same. Below is a video, which explains why we should be more proactive to pay.
In fine, if you are unable to pay taxes under any circumstances, then there is always a way out. File for an extension from the IRS. If you do not or if you become late, the IRS will charge penalty fees to your unpaid tax. The amount is 5% from the total taxable amount. Pending tax is also an offense. So, make sure you pay your tax on time and avoid any penalties.
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