Are your tax liabilities less than the amount of your withholding and your estimated taxes? Well, you are eligible for a tax refund and you should file for this by 17th April 2018. Unfortunately, the date is fixed thus you should be wary of doing so on time but how exactly do you do so? If you are not sure how to navigate your way around how the tax refund works then you need not worry as PDFelement has created a simple yet comprehensive infographic to guide you through how a few things and there in the realm of the US Tax system coupled by the step by step guide on file for a Tax Refund with the IRS.
As a matter of fact, this infographic touches on more! Talk of some cool stats pertaining the US Tax Revenue over the past five years not to mention the tax revenue sources that keep the economy moving. Of particular interest in the stats is the steady increase in the Tax Revenue generated whilst the tax burden is seen to be significantly lower than other developed countries like Canada, Japan, United Kingdom, Germany, Italy, and France.
This is perhaps the reason why the government can offer you some tax relief and at the core of this marvelous infographic is a nice stepwise guide on how to apply for your tax refund in an easy and professional way.
Last but not least, this guide touches on the things you can do with Tax Refunds or rather, what stats show is the norm for many around the country. At an average of $2763 tax refund as at 2017, most people have been found to use this money to clear debts while other do deposit some cash into the savings accounts.
Now, you can check out this infographic for more captivating facts about the US Tax.