Definition of Taxpayer:
United States tax code is legislated and enforced by federal, state, and local governments. The Internal Revenue Service is the primary governing agency overseeing implemented income tax code for both individuals and businesses. State and local revenue agencies are responsible for implementing and enforcing localized taxes such as sales taxes and property taxes. Both individuals and businesses must be aware of their tax obligations since not paying necessary taxes can result in penalties or further legal actions.
A person who pays taxes.
A person or company that has to pay tax.
A taxpayer may be an individual or business entity that is obligated to pay taxes to a federal, state, or local government. Taxes from both individuals and businesses are a primary source of revenue for governments. In the United States, individual taxpayers are usually required to file and pay both federal and state tax returns annually. Businesses must also file annual returns but usually plan for and pay regular estimated tax payments throughout the year.
Synonyms of Taxpayer
People, Citizens, Subjects, General public, Electors, Electorate, Voters, Taxpayers, Residents, Inhabitants, Citizenry, Population, Populace, Community, Society, Country, Nation, World
How to use Taxpayer in a sentence?
- A basic rate taxpayer.
- Taxes from both individuals and businesses are a primary source of revenue for governments.
- Individuals and businesses have different annual income tax obligations.
- A taxpayer may be an individual or business entity that is obligated to pay taxes to a federal, state, or local government.
Meaning of Taxpayer & Taxpayer Definition