| A | B |
|---|
| a dependency test | Support test |
| Filing status for single parent | Head of Household |
| tax credit definition | decreases amount of tax owed |
| tax deduction definition | decreases amount of taxable income |
| AGI | adjusted gross income |
| personal exemption amount for federal | $3,650 |
| personal exemption amount for WI state | $700 |
| standard deduction for federal (single person) | $5,700 |
| Time tax records should be kept | 3 years |
| Amount earned to file a federal tax return by law (for single under 65) | $9,350 |
| Corporate income tax returns due | March 15 |
| Individual income tax returns due | April 15 |
| filing status for seperated parents | married, filing seperately |
| standard deduction for WI state | depends on income and filing status |
| decreasing taxable income or taxed owed legally | tax avoidance |
| failing to report taxable income | tax evasion |
| contributions to a chartiable organization | itemized deduction |
| option for filing | efiling |
| most difficult federal tax form | 1040 |
| federal tax form to be used to claim tuition paid tax deduction | 1040A |
| shortest and easiest federal tax form | 1040EZ |
| Tax return extension due date | October 15 |
| tax credit for rent paid | School property |
| tax credit for tuition paid | HOPE |
| tax credit for low-income worker over 25 | EIC |
| tax credit for an employee | Working Pay |
