Tax season

Tax season is the annual period when individuals and businesses prepare and submit their financial information to the government to determine their tax obligations or refunds. Typically occurring early in the year, it involves gathering income statements, receipts, and other financial documents to file tax returns. The goal is to accurately report earnings and deducts to comply with tax laws, and to settle any due taxes or claim refunds if overpaid. The period encourages organized record-keeping and often includes deadlines set by tax authorities, emphasizing the importance of timely and accurate filings.