| A | B |
|---|
| Income taxes | The largest source of government revenue in the United States. |
| Progressive | Income tax is an example of which type of tax? |
| Regressive | Sales tax is an example of which type of tax? |
| Increase | As taxable income increases, income tax rates do what? |
| Dependent | A person who lives with you and receives support. |
| April 15 | You must file your federal income tax return no later than what date? |
| Congress | According to the U.S. Constitution, the power to tax rests with whom? |
| An Audit | An examination of tax returns by the IRS is called what? |
| Taxpayer, taxpayer's spouse, person who prepared the return | People who must sign a tax return. |
| Exemption | deductions that reduce your tax |
| Earned Income | Wages earned from your job |
| File a return | must be done by april 15 |
| taxable income | gross income minus deductions |
| Internal Revenue Service | the evil people that collect taxes |
| refund | if you pay more than you owe you get this |
| standard deduction | deduction allowed by law if you do not itemize |
| itemize deductions | add up your deductions |
| tax evasion | avoiding paying your tax |
