Taxes 1
What is the term for expenses or items that can be subtracted from your taxable income?
Deduction
What is the identification number issued by the IRS to non-citizens who need to file taxes?
Individual Tax Identification Number (ITIN)
What is the document that shows your earnings, taxes withheld, and other deductions from your paycheck?
Paycheck stub
What is the term for the money withheld from your paycheck for taxes?
Take out
What phrase refers to the process of preparing and filing your annual income tax return?
To "Do Your Taxes"
What is the federal agency responsible for collecting taxes and enforcing tax laws in the United States?
Internal Revenue Services (IRS)
What is the tax levied on the value of your real estate property by your local government?
Property tax
What is the tax form your employer gives you each year that shows your earnings, taxes withheld, and other deductions for the year?
W-2
What action do you take to submit your income tax return or other tax-related forms to the government?
To file (Tax Forms)
What should you do to document your income, expenses, and deductions for tax purposes?
To keep records
What is the money you receive back from the government if you overpaid your taxes during the year?
Refund
What kind of tax does the federal or state government impose on your income?
Income Tax
What is the reason most people work and pay taxes?
Make money
What is the tax charged on goods and services you buy, usually a percentage of the purchase price?
Sales tax
What is the document you file to report your income, deductions, and tax liability for the year?
Income Tax Return
What is the government-run health insurance program for people over 65 or with certain disabilities?
Medicare
What is the federal program that provides retirement, disability, and survivor benefits to eligible individuals and their families?
Social Security