assessees

An assessee is a person or entity that is subject to a tax. This term is commonly used in tax law and refers to anyone who is liable to pay tax on their income, property, or other taxable activities. The specific definition of an assessee can vary slightly depending on the jurisdiction and the type of tax being levied.

In essence, an assessee is the taxpayer. They are the individual, corporation, partnership, trust, or any other legal entity upon whom the obligation to pay taxes falls. This obligation arises from the tax laws of a particular country or region. The tax authorities, such as the Internal Revenue Service (IRS) in the United States or His Majesty's Revenue and Customs (HMRC) in the United Kingdom, are responsible for assessing and collecting taxes from assessees.

The process of assessment involves determining the amount of tax due. This often requires assessees to file tax returns, providing information about their income, deductions, credits, and other relevant financial data. Tax authorities then review this information to verify its accuracy and calculate the final tax liability. If an assessee is found to have underpaid their taxes, they may be subject to penalties and interest. Conversely, if they have overpaid, they may be eligible for a refund. The term assessee is fundamental to understanding how tax systems operate and the responsibilities of individuals and organizations in contributing to public revenue.