Misc
If you want to pay less in taxes and have lots of medical bills or charitable donations, you might choose this over another deduction.
What Is Itemized Deductions?
This is the tax you pay on wages, salaries, and other earnings.
What Is Income tax?
These reduce your tax bill dollar for dollar and not only your taxable income.
What Is Tax Credits?
This is the term for the money you earn before anything is taken out for taxes or expenses.
What is Gross Income?
This type of tax is paid when you buy clothes, electronics, or other retail goods.
What Is Sales Tax?
These reduce your taxable income but don’t directly lower the amount you owe.
What Is Deductions?
This agency will contact you if something looks wrong with your tax return.
What is the IRS?
This type of tax is not directly seen by most employees but funds Medicare and Social Security.
What Is Payroll Tax?
This is the federal agency responsible for collecting taxes and enforcing tax laws.
What Is The IRS?
A common reason someone’s refund might be delayed is being selected for this review process.
What is an Audit?
This hidden tax is already included in the price of things like gas, cigarettes, and alcohol.
What Is Excise Tax?
This is when the IRS reviews your return to make sure everything was reported accurately.
What Is An Audit?
Subtracting the standard or itemized deduction from your adjusted gross income gives you this.
What Is Taxable Income?
This tax is based on your earnings and increases as you move into higher income brackets.
What Is Progressive Income Tax?
This type of return may be more likely to trigger an IRS audit, especially if there are large deductions or missing income.
What is an Itemized Return?