Welcome to taxes 101, your crash course to federal income taxes. We’ve covered the tax basics including tax statistics, the history of taxes, tax terms, tax reform, tax brackets and rates, and tax FAQs, so you can get a good starting point for approaching the upcoming tax season. However, there is still a lot more important tax information that we cover in our detailed blog posts that are a useful resource for any taxpayer. If you still have unanswered questions or need help filing your taxes, Community Tax is here to assist you. Check out our FAQs or speak with us today.
Tax Stats & Facts
We’ve researched the tax statistics you need to know.
History Of Taxes
Learn more about why and when taxes were established.
Understanding taxes is the first step to a correct return.
One of the most difficult things about filing taxes is trying to understand all the complex IRS tax terms. There’s plenty of tax lingo to be learned, and you need to know it so you can provide the correct information on your tax return. For starters, let’s cover a few basic tax terms you’ll need to know:
Tax Brackets + Rates
Tax brackets determine the rate at which your income is taxed.
Tax Law + Reform
Changes to tax law can affect how you complete your taxes each year.
How the Supreme Court Online Sales Tax Ruling Impacts Consumers & Retailers You may have heard about the Supreme Court’s...
You must have your income tax return filed by April 15th at the latest. Otherwise, you may face penalties and other consequences.
Your tax information should be provided to you by your employer by January 31st. If you have any investments, financial institutions are required to send you your tax information by February 15th.
Your tax return will be calculated based on your filing status, income, and any deductions or credits you qualify for. While you can do this math manually on the forms, there are also tax calculators available that can help you get your estimate.
You can file your federal income taxes by submitting them online or by mail.
You can maximize your tax refund by applying any tax deductions or credits that you qualify for.