Taxes are some of the most important things a country or nation must impose on its citizens in order to progress. Taxes are charges charged by the government to individuals and businesses. However regardless of how strict the government is in implementing tax, there are still some individuals who won’t pay. What are the implications of this?
CRIMINAL CHARGES — When a person refuses or forgets to file his income tax, criminal charges could also be filed towards him. These criminal prices may result in imprisonment plus fines or fines alone. The United States law says that if a person is unable to file for earnings tax for one year, 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 vastly for the country’s progress and development. Thus, an individual who does not pay his taxes is, in essence, taking something away from the federal government and from the people.
On the other hand, when people pay their taxes, the following are an important benefits they and the nation itself enjoy.
DEFENSE AND SECURITY
The money the government spends to provide defense and security to its people comes from the taxes that persons are paying. In the United States, nonetheless, defense and security cover not only the US however the complete global community. For instance, the government is sending hundreds of troops everywhere in the world to keep up world peace and these troops require billions of dollars to carry out their tasks.
Another use of taxes is to maintain the roadways, buildings, and architectural buildings owned by the government. Many roads across the country are being fixed and government buildings everywhere in the country are additionally being renovated, and furnished for the benefit of the citizens of the country.
Twenty percent of the 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 are and paying them are all part of being a accountable citizen. And we always owe it to ourselves to pay our dues.
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