What is Federal Income Tax?
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UPDATED: Jul 15, 2021
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The federal income tax has existed in the
How is Federal Income Tax Collected?
For most taxpayers, the tax is collected through a withholding system. Employers are required to withhold a portion of their employees’ earnings and forward that amount on behalf of the employee to the Internal Revenue Service (IRS), the government agency which is responsible for administering the tax system in the
How Does the IRS Determine How Much Federal Income Tax You Owe?
The federal income tax system in the