Check the tax office’s website of the country you live in, you might be up for an unpleasant surprise.
Pretty normal to have to file a tax report if you are a grown up. There are exceptions in a few countries if all your income is from salaried work and you don’t have any deductions to claim but not the norm
CRA (Canada) basically fills in your info for you, you just need to authorize your account in your tax software. Doable online too. If you run a business they obviously can’t do this but if you’re an employee they have all your info.
in the us they have all your info, but your employer pays an estimated amount of taxes out of your paycheck all year, and you’ve still gotta fill out paperwork about it yourself as well.
if it turns out you overpaid, which you only know by doing the paperwork yourself, and you filed taxes, you get money back from the gov. if you overpaid and don’t file, the gov just keeps your money. if you underpaid and filed, you’ll have to send them more money, and if you underpaid and didn’t file, the IRS will be coming for you.
That absolutely is the norm. All handled through PAYE.
Any alterations are typically handled through next year’s tax code. Normal people don’t have to get involved in the process at all. You can prod them to get any refunds sooner (say you get a big bonus and the tax ends up going out of whack), but it works out over time to the point you don’t need to.
Check the tax office’s website of the country you live in, you might be up for an unpleasant surprise. Pretty normal to have to file a tax report if you are a grown up. There are exceptions in a few countries if all your income is from salaried work and you don’t have any deductions to claim but not the norm
CRA (Canada) basically fills in your info for you, you just need to authorize your account in your tax software. Doable online too. If you run a business they obviously can’t do this but if you’re an employee they have all your info.
in the us they have all your info, but your employer pays an estimated amount of taxes out of your paycheck all year, and you’ve still gotta fill out paperwork about it yourself as well.
if it turns out you overpaid, which you only know by doing the paperwork yourself, and you filed taxes, you get money back from the gov. if you overpaid and don’t file, the gov just keeps your money. if you underpaid and filed, you’ll have to send them more money, and if you underpaid and didn’t file, the IRS will be coming for you.
From a UK point of view:
That absolutely is the norm. All handled through PAYE.
Any alterations are typically handled through next year’s tax code. Normal people don’t have to get involved in the process at all. You can prod them to get any refunds sooner (say you get a big bonus and the tax ends up going out of whack), but it works out over time to the point you don’t need to.