Probably you have noticed that money from your salary goes to the IRS. The tax is the money that your take in orde to provide all the necessary services.
Probably you have noticed that money from your salary goes to the IRS.
The tax is the money that your take in order to provide all the necessary services.
The tax is calculated annually by varying degrees depending on the level of your salary.
A lot of people do not even realize that, but there are many reasons why employees pay more tax on a monthly basis than they should, and as a result they deserve tax refunds. Overall, it’s because the tax is calculated annually by law, but charged monthly. Payroll tax secreted from the monthly salary income relates to your particular month will be the same as all the rest of the year with the assumption that you work a full year.
In practice, many employees salaries, not uniform throughout the year, either because their work does not provide the same income every month, or since who worked only part of the year, changing jobs, get grants, sabbaticals or maternity leave. Since the employee is not mandatory to report to the IRS, money is often left to the state treasure.
State tax revenues in Israel
Israeli Tax Authority did a good job in 2015. Israel state treasury got from taxes more than 85 billion NIS - an increase of 10% compared to 2014.
Did you know that 80% of all employees in Israel deserve a tax refund?
In recent years, tax refunds have become common, and rightly so. More and more employees are turning to tax consultants for demanding tax refund for previous tax years, and discover to their surprise that they are entitled to large sums.
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