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CH 7 - Money Matters - Taxes

Vocabulary Terms

AB
Income taxesThe largest source of government revenue in the United States.
ProgressiveIncome tax is an example of which type of tax?
RegressiveSales tax is an example of which type of tax?
IncreaseAs taxable income increases, income tax rates do what?
DependentA person who lives with you and receives support.
April 15You must file your federal income tax return no later than what date?
CongressAccording to the U.S. Constitution, the power to tax rests with whom?
An AuditAn examination of tax returns by the IRS is called what?
Taxpayer, taxpayer's spouse, person who prepared the returnPeople who must sign a tax return.
Child SupportWhat is not considered taxable income on a tax return?


Business Teacher
Klein Forest High School
Houston, TX

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