| A | B |
|---|
| W-4 | A form workers fill out and submit to their employer concerning their withholdings. |
| W-2 | A form employers give to their employees at the end of a year. This form includes totals for all wages and amounts of tax taken out of their checks. |
| 1040EZ | A type of federal tax form that is most commonly used in the U.S. It is also the easiest to complete. |
| Dependent | When a taxpayer supports another person they can claim this type of deduction on their taxes. |
| Exemption | A standard type of deduction on a U.S. federal tax form. Usually people can claim themselves and their spouse. |
| Payroll taxes | Taxes taken out by the employer and paid into the federal or state governments. |
| Gross pay | Your total wages, salary, or tips. |
| Net pay | Your total wages, salary, or tips with taxes withheld or taken out. This is also called take-home pay. |
| Adjusted Gross Income | A person's total wages, salaries, or tips plus any interest income earned during the year. |
| Taxable income | The amount of income actually taxed by the federal or state government. This amount will be adjusted for deductions or exemptions. |
| 1099 | This form reports any interest earned by person during a tax year. |
| Refund | When a tax payer receives money back from their state or federal governments. This means the taxpayer has paid too much income taxes. |
| Underpayment | When a taxpayer has to pay additional taxes after filing an income tax return. |
| April 15th | Deadline for filing U.S. federal and state income taxes. |
| January 31st | Deadline for employers to supply their employees with a W-2 form. |
