Taxes

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Understanding Taxes

If you’ve ever made a purchase or worked a day in the United States, you’re well aware of the many different types of taxes consumers pay, including sales, federal income and state income tax. Taxes are fees that state and federal governments levy on citizens to finance government projects, services and entities.

Each April, you are required to file your tax return for the previous year. It’s important to stay abreast of tax deductions and credits so you don’t miss out on opportunities for valuable tax refunds from the IRS and your state.

Even if you’ve filed your own annual taxes, the subject can be confusing and leave you with questions. GOBankingRates is your go-to source for all your tax question answers, including how to file a tax extension and post office hours on Tax Day.

The Major Tax Changes for 2021 You Need To Know About
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