| A | B |
|---|
| 1040EZ | The tax form generally used for filling out uncomplicated tax situations. |
| 1099MISC | Report of income for any money paid by the job. |
| FICA | Federal Insurance Contributions Act: social security and medicaid taxes. |
| Gross Income | The total income, per year, before deductions. |
| Income Tax | Based on income earned over past year, the taxes you pay to the government/state. |
| Standard Deduction | A deduction for people not depending on parent's taxes. |
| Tax Audit | A review of tax return where you must prove all deductions, expenses, and income. |
| Tax Deduction | A donation or expense that lowers the amount that you have to pay in taxes. |
| Tax Exemption | A number that states the taxpayers in a household and the people that are depending on them, and this determines overall how much must be paid in taxes. |
| Tax Refund | A check where you get money back for money you overpaid in taxes. |
