Taxes

There are two certain things in life: death and taxes! Below is a brief definition of that thing everyone loves to pay every spring.

Individual income taxes are the tax of the total income of the individual minus deductions, while corporate income taxes often tax net income. All Governments define the word ‘income’ differently, and allow reductions of income based on dependants, profits, and what is written off for expenses.
Different Taxes for different folks!

The most crucial usage of taxes is financing public goods and services. Since public goods and services do not allow a non-tax payer to be excluded from using those services (health care, roads, electricity, school defense, police fire sewer, snow removal), they need to be provided by the government, which tend to finance themselves through revenue from taxes. And so taxes are unavoidable necessary.

Back taxes are taxes unpaid for years prior to the current tax year. Back taxes are generally considered ‘past due’ taxes, much like bills that are past due. Interest and penalties are charged and must be paid at the same time that the back taxes are paid in full. Back taxes may be owed by individuals as well as businesses and corporations. Governments can seize property or send individuals to jail for tax evasion.

Since indirect taxes they are less obvious than income tax current governments are tempted to increase them to generate more state revenue easily.