All businesses, except for partnerships, must file an annual income tax return. Collective societies file an informative declaration. The form that the company or corporation must use depends on the corporate structure under which it is registered.
The federal income tax is a periodic payment tax. You must pay the tax as you earn or receive income during the year. Employees who earn money in W-2 format are usually withheld income tax from their pay. If the hiring company does not do the proper withholding, you may have to pay the estimated tax.
As a taxpayer you have the possibility of making estimated advance payments (RECOMMENDED) or you can pay all the tax you owe at the time of filing the return.
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