If an Individual Taxpayer Is Unable to File a Tax

question 112

True/False

If an individual taxpayer is unable to file a tax return by its original due date,the taxpayer can request an automatic 9-month extension to file the return.

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Definitions:

Tax Incidence

The manner in which the burden of a tax is shared among participants in a market.

Tax Burden

The measure of the total amount of taxes that individuals, businesses, or other entities must pay, relative to their income or profits.

Tax Revenues

The income that is gained by governments through taxation, which is used to fund public services, government obligations, and goods.

Benefits Principle

A concept that suggests taxes should be levied based on the benefits received by taxpayers, ensuring that those who benefit more from public services pay more taxes.