Types of Taxes
These are the 3 general categories of taxes a person might see living in the United States
What are Buy, Earn, and Own?
If a person's annual income is $57,898, this is the tax rate of their highest tax bracket.
What is 22%?
What is 25%?
This is the tax form that most employees receive from their employer that they will use to file their taxes.
What is a W-2?
This is the specific type of tax paid when purchasing goods or services, and it typically funds state and local governments.
What is Sales Tax?
If a person's highest tax bracket is getting taxed at a rate of 12%, this is the income range they fall into.
What is $10,276 - $41,775?
In 2022, this is the percentage of federal tax revenue that went towards Defense.
What is 13%?
This is one of the tax prep software that people can use to file their taxes. (Only 1 answer is needed)
What is either TurboTax, H&R Block, Tax Slayer, or IRS Free File?
This is the specific type of tax that is taken directly from one's paycheck, and it typically funds the federal and state government.
What is Income Tax?
It a person's annual income is $99,076, this is how much of their income is being taxed at a rate of 24%.
What is $10,000?
In 2022, this is the area that received 3% of federal tax revenue.
What is Education?
This is a person who can be claimed on another person's taxes as a qualifying child or relative.
What is a dependent?
This is the specific type of tax paid on something somebody owns, such as their home or car, and it typically funds the local government.
What is Property Tax?
If a person's annual income is $56,227, this is how much of their income is being taxed at a rate of 24%.
What is $0?
In 2022, these are the areas that each received ~1% of federal tax revenue.
What are Natural resources and agriculture, Science and medical research, Law enforcement, and International?
This is the highest annual income a person can earn in order to use the IRS Free File tax program.
What is $73,000?
These 2 specific types of taxes are the sources of funding for public education.
What are Sales and Property Taxes?
If a person's annual is come is $276,083, this is how much of their income is taxed at 24%.
What is $80,975? (give an error of +-$2)
In 2022, this is the total percentage of federal tax revenue that went towards Social Security and Interest on debt.
What is 28%?
This is the tax form students (or the person/people claiming a student as a dependent) receive that allows them to claim tuition on their taxes.
What is a 1098-T?