Everything about income tax: what is income tax, does everyone pay the same income tax, is it better to earn less purposely to qualify for a lower tax bracket, different types of income tax (federal and state), is the state income tax rate the same for all states, does the income tax rate keep changing or it stays the same, when do you have to pay income tax (Apr 15), what happens if you end up paying extra income tax (refund), what happens if you don't pay income tax or don't pay all of it (interest and penalty), how does the government know how much you earn and how much income tax you have to pay (filing tax return), and more. Show notes and transcript at: http://easypeasyfinance.com/what-is-income-tax/