Taxes
Income
Paychecks
Taxes
Tax Returns
100
personal income tax
What is a tax withheld from a paycheck by an employer, as determined by the information on the W4?
100
earned income
What is the money you receive for doing a job?
100
deductions
What are amounts of money subtracted from your gross pay?
100
FICA
What is another name for Social Security tax?
100
W-2
What is a Wage and Tax Statement--the form that your employer must provide each year that shows your total earnings and deductions?
200
excise tax
What is a tax placed on certain products or services such as cigarettes or liquor?
200
salary
What is a set amouont of money paid for a certain period of time?
200
exemption
What is a set amount of money on which you do not have to pay taxes?
200
progressive tax
What is a tax that takes a greater share of income from the rich than the poor?
200
1040EZ
What is the simplest and shortest tax form to file?
300
sales tax
What is a tax on food or drugs?
300
minimum wage
What is the lowest amount of money an employer is allowed to pay a worker per hour for most jobs?
300
net pay
What is gross pay minus deductions?
300
regressive tax
What is a tax that takes a lower percentage of income from the rich and a higher percentage of income from the poor?
300
tax evasion
What is it called when a person fails to declare income or falsifies information?
400
sales tax
What is an example of a regressive tax?
400
fringe benefits
What are rewards such as vacation time, holiday pay, and sick leave?
400
congress
Who determines the amount of an exemption?
400
indirect tax
What is a tax that is included in the price of a taxed item and is passed on to the buyer in the form of higher prices?
400
April 15
What is the national deadline for filing a tax return?
500
personal income tax
What is an example of a progressive tax?
500
bonus
What is an extra payment in addition to the worker's regular pay?
500
W-4
What is another name for an Employer's Withholding Allowance Certificate?
500
excise tax
What is a tax placed on certain products or services, such as gasoline or cigarettes?
500
deductions
What are charitable contributions, interest on some loans, some medical expenses, and child care expenses called?
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