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Taxes

federal income tax

The federal income tax is a tax levied or charged by the Internal Revenue Service (IRS)—the revenue service of the United States (federal) government. The federal income tax is a tax on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities.

Federal income taxes are levied on all types of earnings that make up a taxpayer’s taxable income—including earnings from employment and from capital gains (income earned on the sale of assets).

In Louisiana, as in all states across the United States, the federal income tax is levied by the Internal Revenue Service (IRS), which is the federal government's revenue service. This tax applies to the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities. The federal income tax encompasses various types of earnings that contribute to a taxpayer's taxable income, such as wages, salaries, bonuses, and capital gains, which are the profits realized from the sale of assets like stocks or real estate. The amount of federal income tax an individual or entity owes is determined by their income level, filing status, and the tax laws and rates that Congress enacts. Taxpayers in Louisiana must comply with these federal tax regulations, and they are required to file annual tax returns with the IRS to report their income and calculate their tax liability.

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Taxes

federal income tax

Individual & Family Legal Plan

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Louisiana State Code

Louisiana State Code

Taxes

federal income tax

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