No income taxes are paid by anyone making under $75,000 a year. Everyone else gets taxed 20% for any income over $75,000 a year. No deductions.
All investments and employers must report their profits and payrolls and the IRS sends you a bill. No work is required on your end. All of the reports and information will also be available on the IRS website for you to check and challenge if you see any inaccuracies.
