Life Skills

Income Taxes

Taxes are the money that people pay to support the government. How much you pay in taxes depends on how much money you make a year. The local library has information on community service centers that help with taxes. You can use the services of a tax advisor or an accountant to help you file your taxes. You can also get free advice on the Internet. There are some important things to remember when filing your taxes.

It is important that you keep all your financial records in order. Receipts will be important in case you need to prove how much you spent. It is also important to file the correct number of dependents. You may claim relatives in other countries if they make less than $2,800 and receive at least half of their support from you. If you pay for your own health insurance you may deduct a percentage of what you pay.

The IRS will sometimes give you a second chance to correct the mistakes you made in filing your taxes. But remember, if you break the law and don't pay your taxes you could get into big trouble. The IRS will charge you with tax evasion. You will have to pay fines and may be sent to jail.