Taxes (Forms)
Form 1040?
What is a form that U.S. taxpayers use to file their annual income tax return
Progressive Tax
What is a tax that takes a larger percentage of income from the wealthy than the poor taxpayers.
Sales, Property, and Excise Taxes.
State
Under the ACA, how long are you allowed to stay on your parents' health insurance?
Until the age of 26.
I-9?
What is a form to verify the identity and employment authorization of individuals hired for employment in the United States.
Regressive Tax
What is a tax that takes a higher percentage of income from the poor than from the rich.
Social Security, Disability, Elderly.
Federal
____is the nation’s healthcare plan for the elderly and disabled. It takes 1.45% of your gross income every paycheck.
Medicare
W-2?
What is form the employer fills out each tax year to record how much an employee was paid and how much tax was withheld.
Fixed Tax
Takes the same percentage of tax from wealthy and poor taxpayers.
Estate Tax, Capital Gains Tax, Gift Tax
Federal
This is a tax paid to fund payments to the Old-Age, Survivors, and Disability Insurance (OASDI) Program. An employee pays 6.2% in taxes, and an employer pays another 6.2% in taxes.
Social Security Tax
W-4?
What is a form the employee fills out upon hiring to let an employer know how much to withhold from their paychecks for taxes.
Tax Bracket
Divisions at which tax rates change in a progressive tax system
Both
This is the largest category of expenses of the federal government.
Entitlement programs (Social security, Medicare, etc.)