Taxpayer

A taxpayer is an individual or entity required to pay taxes to the government. Taxes are collected to fund public services like education, healthcare, and infrastructure. Taxpayers can include workers earning salaries, businesses generating profits, and property owners. The amount of tax owed often depends on income, property value, or sales made. Taxpayers have the responsibility to file tax returns, reporting their income and tax obligations, typically on an annual basis. Compliance with tax laws is crucial, as failure to pay taxes can lead to penalties or legal consequences.