Money taken out of your pay to fund Social Security and Medicare.
income bracket
unearned income
W-2
FICA
revenue
net pay
flat tax
direct deposit
sin tax
audit
dependent
W-4
Electronic transfer of a payment from your employer to your bank account.
flat tax
sin tax
W-2
net pay
W-4
dependent
unearned income
FICA
audit
income bracket
direct deposit
revenue
A high cost added to the purchase of goods, such as cigarettes and soda, intended to discourage the use of those goods.
sin tax
W-2
income bracket
dependent
W-4
revenue
audit
direct deposit
FICA
net pay
unearned income
flat tax
Wage and Tax Statement; provided by your employer to report your annual wages and taxes withheld
direct deposit
W-4
FICA
flat tax
revenue
income bracket
audit
W-2
dependent
net pay
unearned income
sin tax
A category of taxpayers based on their income
unearned income
W-4
direct deposit
dependent
audit
revenue
sin tax
income bracket
W-2
net pay
flat tax
FICA
A person other than a spouse, usually a minor child, who entitles the taxpayer to claim an exemption.
net pay
income bracket
W-2
dependent
FICA
audit
direct deposit
unearned income
W-4
revenue
flat tax
sin tax
Money the government collects from taxes, tariffs, etc
W-2
income bracket
dependent
FICA
sin tax
net pay
revenue
flat tax
audit
direct deposit
unearned income
W-4
Money you receive that is not from a paycheck, such as lottery winnings, an inheritance, or a trust fund
net pay
flat tax
income bracket
direct deposit
audit
FICA
W-4
W-2
revenue
dependent
unearned income
sin tax
Take-home pay; money left in your paycheck after taxes, etc. have been deducted
income bracket
net pay
W-4
unearned income
revenue
audit
FICA
dependent
direct deposit
W-2
flat tax
sin tax
Form an employee fills out for every new employer so that the employer withholds the correct amount of income tax from paychecks based on marital status and number of dependents