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Filing your return: Why file?

Tax BasicsYou've got that job and taxes were paid through withholding. That's it, right?

Wrong.

Although there are folks who don't have to pay taxes, if you make any kind of real income at all, it's probably not you. And while the bulk of your tax bill probably is paid through withholding, you still must file a return to determine the exact amount of your taxable income and your final tax bill.

 

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If that sounds like a hassle, consider this: Filing a tax return is the only way you can get money back if you're entitled to a tax refund.

 

BACK: Effective tax rates NEXT: Do I have to file?
 
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Tax Basics
Click on the links below to view the seven-part series of Tax Basics
Part One
Part Two: Filing your return
Part Three
Part Four
Part Five
Part Six
Part Seven

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BASICS SERIES
Tax Basics
Knowing how to file can save you money.
Filling out the W-4 form
What is my tax rate?
How to itemize deductions
Tax credits can lower bill
Death and taxes
Tax record-keeping

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