Taxes and Why We Need to Pay Them
Taxes are some of the most important things a country or nation must impose on its citizens in order to progress. Taxes are fees charged by the government to individuals and businesses. But no matter how strict the government is in implementing tax, there are still some people who won't pay. The consequences?
CRIMINAL CHARGES - When a person refuses or forgets to file his income tax, criminal charges may be filed against him. These criminal charges may result in imprisonment plus fines or fines alone. The United States law says that if a person is unable to file for income tax for one year, he or she will be fined $25,000 per year of non-payment and will be imprisonment for one year.
LIMITED GOVERNMENT FUNDS - It will still matter greatly for the country's growth and development even if the money you will be paying as taxes to the government may seem small compared to its overall standing. Thus, a person who does not pay his taxes is, in essence, taking something away from the government and from the people.
When people pay their taxes, the following are the most important benefits they and the nation itself enjoy :
SECURITY AND DEFENSE
The money the government spends to provide defense and security to its people comes from the taxes that people are paying. Defense and security covers not only the US but the entire global community in the case of the US. The government for instance is sending thousands of troops all over the world to maintain world peace and these troops require billions of dollars to carry out their tasks.
MAINTENANCE
Another use of taxes is to maintain the roadways, buildings, and architectural structures 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 percent 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 continue serving the people of the country.
Being a responsible citizen means that you understand why you pay your taxes and understand where it's being spent. And we always owe it to ourselves to pay our dues.
About the Author
If you're wondering where to find good accountants Irvine or if you're thinking of hiring a CPA firm Orange County, you're in luck. There many of them but you still have to do your research to know which one among them is best. Choose wisely.
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