There are different types of taxes such as Income Tax and Property Tax for example. Taxes are used to fund various public developments such as schools and public parks. Not paying your taxes is punishable by law. These taxes are collected at the end of each year in some jurisdictions after the completion of a form which declares all taxable categories. Some of these categories include Income, Property, Corporate, Tariff, Capital Gains, etc. These categories all account for the total you will have to pay the government in taxes, as it turns out, sometimes the government will wind up paying you! This is also known as a tax return. Nevertheless, it is important to always pay your taxes, as they contribute to various educational and community developments.Read more