TAXES AND YOU

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Across
  1. 2. Taxes paid on things that are harmful to health.
  2. 4. Number which reduces amount of tax removed from pay.
  3. 6. Type of taxes paid on income and property.
  4. 7. Tax which is the largest withheld from your paycheck.
  5. 10. Tax paid on specific goods and services such as alcohol or tobacco.
  6. 12. Type of tax in which all pay same % of taxes.
  7. 14. Taxable income when you are laid off.
  8. 16. Individuals that will reduce your tax liability
  9. 17. Return Must be completed and postmarked by April 15th to be on time.
  10. 19. Income after withholding
  11. 20. Receive if paid in extra taxes.
  12. 23. Term that means to complete and turn in tax forms.
  13. 24. A form that reports interest income is a 1099 ______ form.
  14. 25. Term to describe what is removed from gross income.
  15. 27. Tax paid by giver if over limit allowable.
  16. 28. Refer to this to determine tax liability on adjusted gross income.
  17. 30. Tax paid on value of land/real estate you own.
  18. 31. Types of programs that make up 1/3 of federal spending.
  19. 32. Tax paid on what you may inherit from family.
  20. 34. Tells employer what to withhold.
  21. 36. Income that includes all earnings
  22. 37. Reports what has been paid in taxes.
Down
  1. 1. Tax principle-as income increases, % of taxes increases.
  2. 2. Individuals that are ______ ___________ will report/pay taxes quarterly.
  3. 3. Tax principle-as income increases, $ of taxes decreases.
  4. 5. Expenses you can legally subtract from income.
  5. 8. Larger incomes pay more tax.
  6. 9. Term to describe your responsibility for taxes.
  7. 11. Amount of money your tax liability is figured.
  8. 13. Over withholding is a way to __________.
  9. 15. Roads, schools , national defense are all examples of _______ ______ which are covered by taxes.
  10. 18. Type of taxes included in cost of good or service, such as rent.
  11. 21. Most common tax form filed by young people due to lower income is the 1040-_____.
  12. 22. Types of withholding, such as, health, dental, investments, etc.
  13. 26. Tax paid on goods/services at time of purchase.
  14. 29. Program used by consumers to file taxes electronically.
  15. 33. Agency that collects taxes at federal, state and local level.
  16. 35. Pay if tax liability is higher than withholding.