Tax Forms
What is a W-4 form
Form used to let employer know how much to withhold from your paycheck
What is a Tax deadline
Date by which taxes must be filed and paid to avoid penalties
What is Tax Credit
Amount that directly reduces the tax owed, often based on specific criteria
What is a Paystub?
Document showing details of your paycheck including deductions and earning
What is a 1099 form.
IRS form used to report non employer income
What is a W-2 form
What is a Taxable income
Income that is subject to taxation after deductions and exemptions
What is tax bracket
Range of income subject to a certain tax rate
What is a Earned Income
Money earned from sources like wages, salaries, and bonuses
What is IRS direct file
eligible tax payers that are 25+
what is a 1040 form
Form used to file your annual income tax return
What is Tax evasion
What is a pay stub
Document showing details of your pay check including deductions and earning
What is Tax refund
Money returned by the government when you’ve overpaid taxes
What is tax
a mandatory financial charge
What is a Exempt (on W-4 form)
Choosing not to have income taxes withheld from your paycheck
What are Tax consequences
Results of actions that impact your taxes,such as deductions or credits
What is a Taxable Event
Transaction that triggers a tax liability
What is Tax penalty
additional charge imposed for failing to pay taxes on time
When did the iris get established
It was established after the civil war
What is a Tax return
Document filed with government reporting income and taxes owed
What is Tax installment
Partial payment of taxes due,spread over a period
What is a Dependent?
Person who relies on someone else for financial support
What is tax audit
Examination of tax return by the IRS to verify accuracy and compliance
Who made taxes
president lincoln