The total amount that you owe for income tax in one year is your tax

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Tax liability refers to the total amount of tax that an individual or business owes to the government for a particular tax year, including any penalties or interest that may have accrued. This amount is calculated based on the taxable income, deductions, and credits that apply to the taxpayer's situation. It is the ultimate financial responsibility of the taxpayer to pay their tax liability by the due date.

The Total Amount That You Owe for Income Tax in One