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When tax season comes upon us, it is time for some people to panic and for some to rejoice. Taxes can be something of dread or joy depending on how much money you put into the system before the tax season began. If you put in nearly 30 to 40 percent of your taxes, then chances are you will be getting a hefty refund from the federal government. However, if you paid no or little taxes then you will more than likely be writing Uncle Sam a hefty check before all is said and done.
At the most basic level, we all pay taxes. Whether if it is a simple sales tax or an income tax, weâ€™ve all paid in some way or another. Also, depending on the legislation in the government, you may also be receiving some additional bonuses. For instance, there are bonuses for purchasing an environmentally friendly car, or a new house under current legislation. Also available are discounts that hire new employees.
From the current legislation and personal exceptions the average payer can expect to receive anywhere from $1,500 to $2,500 in refunds during this tax period. However, that only depends on what you put in during the year. If you refuse to pay the taxes then it will more than likely mean you will have to answer to the IRS before the yearâ€™s end. Remember that your toilet flushes, lights turn on, and roads are paved with the money that your taxes to towards.