Types of Taxes
You have to pay this every time you purchase something.
Sales Tax
This feature allows your paycheck to go directly into your bank account instead of recieving a paper check.
Direct Deposit
This is a child or a relative that you financially support.
Dependent
This account is connected to your debit card.
Checking Account
You always want to protect this when using your debit or ATM card. Never provide it to anyone under any circumstances.
PIN Number
This "sin tax" is added to products that the government fells should be discouraged, like alcohol and tobacco.
Excise Tax
Money taken from your gross pay are knwon as this.
Deductions
This agency collects taxes.
Internal Revenue Service (IRS)
In 2019, US banks made $11.68 billion dollars in this common fee
Overdraft
When writing a check, the place for notes on what the check was written for can be located in this corner.
Bottom Left
These are the two primary payroll taxes United States citizens have withheld in their paycheck.
Medicare and Social Security
This form is completed and turned into your employer to help them determine what % of your gross pay will be withheld for income taxes.
W-4 Form
If the IRS suspects that your taxes are have been done incorrectly or you haven't paid your fair share, they will do this.
Audit
This kind of institution is a banking service for a specific group of people and their families; with usually lower fees and better service.
Credit Union
To make a check non-negotiable and invalid, you should write this over the front of it.
VOID
Often referred to as the death tax, this is a payment when property is transferred after someone's death.
Estate Tax
This is the amount of money you end up with after withholding and taxes.
Net Pay
This is the form you submit when filing taxes.
1040
Collateral
Signing your name on the back does this, ensuring that you can cash it or deposit it
Endorse
Sales taxes, Property taxes, and Sin taxes are all this, because the more people make, the less % of their income it is.
Regressive Tax
Garnishments like child support are deductions that have been mandated by what type of bodies?
The Courts
What date is usually Tax Day?
April 15
Banks often did this, where African Americans and businesses in predominantly black areas were systemically denied loans.
Redlining
This happens when you write a check for an amount that exceeds what's in the account.
Bounces