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Tax Time

April 19, 2010

Last Thursday,  April 15th was tax day.  That is the day when all people living in the United States must pay their Federal income tax.  In most states you must also pay your State income tax.  Nobody enjoys paying taxes, but this is the cost of living in our society and the money has come from somewhere.

Every week, when I get my paycheck, my pay stub lists how much money has been taken out of my paycheck for my state and federal taxes.  At the beginning  each year, (usually in mid January), each  person who had a job that year receives a W-2 form.  This lists all the money taken out of their paycheck for the entire year for their taxes.

Sometime between the time you receive your W-2 form and April 15th you must fill out your tax form and determine how much money you owe the Federal and State government.  Once you have completed your tax form and determined how much money you owe, you look at your W-2 form and you see how much money was taken from your paycheck.  If that amount is less than the amount taken from your paychecks, then the government owes you a tax refund.  If the amount  more you must pay the government an additional amount.

Every year this is done in the United States .  This is a duty that everyone must do every year.  Because of this, April 15th is considered a very bad, unhappy and depressing time in the United States.  It is also called “tax time.”


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