Tax filing is the process of submitting your financial information to the government to report your income and calculate how much tax you owe or how much of a refund you may receive. This typically involves filling out forms, such as the 1040 form in the United States, which details your earnings, deductions, and credits. Individuals and businesses must file their taxes annually, usually by a specific deadline, such as April 15 in the U.S. Accurate tax filing is important to avoid penalties and ensure compliance with tax laws. Many people use tax preparation software or hire professionals to assist with this process.