The proximity of each residence to the taxpayer's close friends would not necessarily be taken into consideration when trying to determine which of two residences is the principal residence of the taxpayer.
What is meant by a Taxpayer?
- A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation.
- Governments primarily obtain their funding through taxes, which are levied on both citizens and companies.
- Individual taxpayers in the US are often required to submit and pay both federal and state tax returns each year.
- Localized taxes like sales taxes and property taxes are implemented and enforced by state and municipal revenue agencies.
- Since failing to pay required taxes can result in penalties or additional legal actions, both people and corporations need to be aware of their tax duties.
Businesses must also file annual returns but usually plan for and pay regular estimated tax payments throughout the year.
Therefore, the proximity of each residence to the taxpayer's close friends is not taken into consideration.
Know more about taxpayers with the help of the given link:
https://brainly.com/question/14190241
#SPJ4
