Taxpert Education on Individual Income TaxesIncome taxes as we know then today originated in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. It empowered Congress to tax "incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." The Internal Revenue Code is today embodied as Title 26 of the United States Code (26 U.S.C.). While some states, like Nevada, do not have an individual tax, all residents and all citizens of the United States are subject to the federal tax. Not everyone, however, must file a return. The purpose of this type of taxation is to raise money for the federal budget. The debate over how much is the "right" amount to collect will undoubtedly continue forever. The funds collected are used to pay for programs that the President and Congress believe are necessary. Individuals are not the only ones required to file tax returns. Businesses of different types and trusts do as well. While these different entity types are subject to many of the same rules as are individual taxpayers, they are also covered by intricate rules addressing the complex challenges of each entity type. More on these topics in other sections of Taxpert.org. What follows are several links that will assist you in different areas of your tax life. Please use them since each link is designed to inform you which ultimately will save you tax dollars:
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