Tax filing is the process of submitting your financial information to the government to report your income and calculate how much tax you owe. This usually involves filling out specific forms, such as the 1040 form in the United States, which details your earnings, deductions, and credits. Individuals and businesses typically file their taxes annually, with deadlines varying by country. Accurate tax filing is important to avoid penalties and ensure compliance with tax laws. Many people choose to use tax software or hire tax professionals to help them navigate the process and maximize their potential refunds.