Did you know that you could get up to $4,300
in cash back from the government just for filing
your taxes? Find out
how
Each year, the Internal Revenue Service (IRS), which is part of the U.S. Treasury Department, collects federal taxes. And, the state tax agency for the state you live in collects state taxes. You pay federal and state taxes throughout the year by having your employer withhold taxes from your paycheck.
At the end of each year, your employer sends you and the IRS a W-2 form that reports the total amount of tax you paid that year. The IRS mails you a form that you need to fill out and return. The form tells the IRS how much you have already paid in taxes and how much more you owe or how much you should get back. You have to send the IRS your paperwork by April 15.
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