Simply because it is considered as "income" ... all income must be reported to the IRS.
If your refund is consistently high and you desire not to have to keep paying taxes on it, then have your tax deductions changed appropriately - having less taxes removed on the paycheck. That way, you have the extra money to spend along the way instead of just banking it (interest free of course) with the government. Best advise: Consult a reputable CPA. Pardon me - who says your refund is taxable? You pay tax with after tax money (you figure your taxable income (which does NOT have a deduction for taxes you will pay), and then you figure how much tax you pay on that. Anything else would be circular. Hence, the money you pay is not tax deductible, and money refunded is NOT taxable. It has already had tax paid on it. State tax refunds, because you took it as a deduction in calculating your Federal Taxable Income, are taxable.
Yes, they pay taxes. If you work you pay taxes no exceptions.
Estates pay taxes on income and may have to pay inheritance taxes.
the pay before taxes net pay is after taxes
They didn’t pay taxes.
Yes. They pay income taxes and property taxes and sales taxes.
How much federal taxes do you have to pay on $600?
If looking at your pay stubs, you gross pay represents your total pay before taxes. The net pay is your pay after taxes.
if they pay the taxes for the house then no if they don't pay taxes then they do pay
People pay taxes in many different ways. Taxes are taken out of your paycheck, you pay taxes when you make purchases at a store, and you pay taxes on your home and property.
they didnot pay taxes
You have to pay taxes on the profits when you sell or otherwise dispose of the stocks. You also have to pay taxes on dividends.
Welders that do not break the law pay taxes.