Tax Terminology

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Across
  1. 3. Judgement
  2. 6. A letter sent out if we adjust information on a return.
  3. 8. Total income from all sources, minus certain adjustments
  4. 9. Wages deducted by an employer to pay federal, state and local taxes on employee's behalf.
  5. 13. Money received from active employment or running a business
  6. 15. The total income a business receives from all sources during a given period.
  7. 18. First 2 notices sent to a taxpayer after a return is processed.
  8. 19. 1% per month
  9. 21. The use of funds from one period/account/government used to pay a balance due.
Down
  1. 1. Delaware's Retail Tax Rate is 15%, but has no federal tax rate
  2. 2. Not a calendar period, but...
  3. 4. A transfer of unspent funds or tax losses from one period to the next.
  4. 5. 1/2% per month
  5. 7. Every business in Delaware needs one
  6. 8. A formal examination of documentation to determine the validity or correctness of return
  7. 10. Integrated Revenue Administration System
  8. 11. A Corporation or LLC that passes corporate income, losses, deductions, and credits through to its owners' personal income taxes
  9. 12. Money reimbursed for overpayment of tax liability
  10. 14. A method to pay currently any income taxes that will be due for the year, in excess of withholding and/or credits.
  11. 16. Delaware does not accept the Federal; at least for Personal Income Tax
  12. 17. The process of appealing a proposed assessment or dis-allowance of claim for credit or refund.
  13. 20. Deductions or losses exceed the taxable income for a given period.