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 financial aid is given based on merit and not need.
Scholarships
Another term for housing and food.
Room and Board
This "sin tax" is added to products that the government feels should be discouraged, like alcohol and tobacco.
Excise Tax
Money taken from your gross pay are known as this.
Deductions
This agency collects taxes.
Internal Revenue Service (IRS)
This kind of loan is usually easier to get, but you have to pay interest while in school.
Unsubsidized Loan
On vehicles, you probably aren't going to end up paying this displayed cost.
Sticker Price
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 is named after the Senator who championed its creation, this aid is given to students of financial need.
Pell Grant
PLUS loans are usually paid by graduate students and them.
Parents
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
To accept a federal student loan, you will need to complete entrance counseling and sign this.
Promissory Note
This program give students the opportunity to find jobs through their college and earn money toward paying college expenses.
Work-Study
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
With the last two years being the exception, what date is officially known as Tax Day.
April 15
This is the first day in which FAFSA applications are accepted.
October 1
This is the long-term failure to repay your student loan, which could result in garnished wages, withholding of taxes or social security, and long-term credit score damage.
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