Taxes Terms

5. U.S Federal agency responsible for administering and enforcing the nation's tax laws.
6. A qualifying child or relative who relies on you for financial support.
7. A mandatory payment or charge collected by the government.
9. The value of an asset for tax purposes.
10. A tax on specific goods,services, or activities.
12. All income you receive during the year, including wages, interest, dividends, and other earnings.
14. The total income generated by a company or government from its primary business activities.
15. Type of tax that increases as the taxable amount increases.
16. Type of government that collects the majority of taxes and funds national services like defense, Social Security, and Medicare.
17. Taxes taken out of an employee's paycheck by the employer to pay their income and payroll taxes.
22. Type of tax that takes the same percentage of income from all taxpayers.
24. A tax paid by employers and employees to fund Social Security and Medicare.
25. A locally assessed levy on real estate and sometimes personal property.

1. A tax paid by the consumer when they purchase goods and services.
2. A tax imposed by a government directly on your income.
3. Type of government that collects taxes to fund their own services, such as education, transportation, and public safety.
4. A tax on the transfer of money or property to another person.
8. A reimbursement from the government to a taxpayer who has overpaid their taxes throughout the year.
10. A nine-digit number assigned by the IRS to identify a business entity.
11. The illegal practice of not paying taxes you legally owe.
13. A federal payroll tax payable by both employees and employers to fund Social Security and Medicare.
18. A tax levied by a government on imported goods.
19. Type of tax that is applied uniformly,regardless of income level.
20. A tax on the profits of a corporation.
21. Governments such as counties, cities, and special districts, collect revenue to fund community services.
23. The ranges of taxable income.