Payroll & Taxes

3. A federal program that provides monthly benefits to millions of Americans, including retirees, military families, surviving families of deceased workers, and disabled individuals.
5. The portion of an employee's wages that is not included in their paycheck because it goes directly to federal, state and local taxes.
7. A tax system that uses tax brackets to collect a larger percentage from the income of high-income earners than it does from low-income earners.
8. Income earned through interest on savings accounts, bonds, CDs, etc.
11. A form that details all "non-employee" compensation, including for specific jobs like freelancers or contractors.
12. A federal law that requires an employer to withhold taxes from the wages they pay their employees; the funds go toward Social Security and Medicare.
13. A form completed by an employee to indicate his or her tax situation (exemptions, marital status, etc.) to the employer, who then withholds the corresponding amount of taxes from each paycheck.
15. A document attached to every paycheck that details your earnings and the amount withheld for taxes, health insurance, retirement funds, etc.
17. A standardized dollar amount that reduces your taxable income, specifically for individuals who do not receive additional benefit by itemizing their deductions into medical expenses, donations, etc.

1. Someone you financially support who can be "claimed" on a tax return to reduce your taxable income and lower your taxes.
2. A category that defines the type of tax return an individual will use, primarily based on marital status; it also determines the size of your tax brackets and how much of your income is taxed at each rate.
4. Taxes paid by employees to federal and state governments through a direct deduction from their paycheck.
5. A form that an employer must send to an employee and the IRS at the end of the year to report the employee's annual wages and taxes withheld from their paycheck.
6. A government-run insurance program that provides healthcare assistance to low income Americans.
8. Form used by an employer to verify an employee's identity and to establish that the worker is eligible to accept employment in the United States.
9. A tax paid on purchases of a specific good, like gasoline or cigarettes.
10. An annual report to the IRS summarizing total income, deductions, and the taxes withheld by employers.
11. The standard Internal Revenue Service (IRS) form that individuals can use to file their annual income tax returns.
14. Money from the profits of a company that is paid out to its shareholders, typically on a quarterly basis.
16. A government-run insurance program that provides healthcare assistance to elderly and disabled Americans.