A
A dollar-for dollar reduction in the tax.
Tax credit
A reduction in the amount of taxes taken by the government.
Tax cut
The result of the government taking in less money than it spends.
Deficit
Benefits that cannot be withheld from those who don't pay for them, and benefits that may be "consumed" by one person without reducing the amount of the product available for others.
Public goods and services
The official body of tax laws and regulations
Tax code
It is a nine-digit number issued to US citizens, permanent residents, and temporary residents who are eligible to work.
Social Security Number
Required payments of money to governments that are used to provide public goods and services for the benefit of the community as a whole.
Taxes
Is used to confirm identity and employment eligibility.
Form I-9
The simultaneous increase of consumer prices and decrease in the value of money and credit.
Inflation
Is a tax document that the employer sends to the IRS at the end of each year.
W-2 form
The last date for the employer to file the W2 form.
Jan 31
Is used to determine the proper tax withholding from the employee's paycheck.
Form W-4
A part of a person's or business' expenses that reduce income subject to tax.
Tax deduction
If you still live with your parents and they claim you as a dependent on their income taxes than what do you claim for exemptions?
0
Give me an example of a Progressive tax.
Income tax
Give me an example of a Regressive (luxury) tax.
Tobacco, Alcohol, Gas, Jewelry, Perfume, or Travel
Give me an example of a Proportional tax.
Estate Tax
Sales Tax
Real estate Tax
Give me an example of a User Tax.
Licenses (fishing or hunting)
Parking, Tolls, Bridges, Roads
Entrance Fees