Final answer:
Federal income taxes are progressively assessed based on taxable income, with additional responsibilities such as property and sales taxes. The IRS oversees tax law administration and collection, while politics can significantly influence these laws.
Step-by-step explanation:
Federal Income Taxes Assessment
Federal income taxes are assessed based on an individual's taxable income. The U.S. government uses a progressive tax system illustrated in the 2010 Tax Rate Schedules. For example, if your taxable income is $20,000, you would owe $837.50 plus 15% of the amount over $8,375, resulting in a total of $2,581.25 in federal income taxes. This system ensures that as an individual's income increases, they pay more in tax, both in absolute amounts and as a fraction of their income.
Other Types of Taxes
Aside from federal income tax, individuals may also have to pay state income taxes, property taxes, sales taxes, and payroll taxes, among others.
Internal Revenue Service Function
The main function of the Internal Revenue Service (IRS) is to administer the tax laws enacted by Congress and to collect taxes in a manner that promotes compliance with the tax law and respect for the American system of voluntary tax compliance.
Political Influence on Tax Laws
Politics can significantly influence tax laws as legislators and administrations have the power to make changes to the tax code. These changes can have profound effects on the economy and are often a reflection of the political priorities of those in power.