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How much does a person have to pay in taxes?
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In the US, federal income tax is based on taxable income. Taxable income for most people is calculated by taking their total income and subtracting deductions such as medical expenses, retirement savings contributions, and student loan interest payments. The amount of taxes owed will depend on the taxpayer's filing status and other factors. Generally, taxpayers must file their returns by April 15th each year and must pay any taxes due by April 30th.