10.3 Vocab Flashcards
1
Q
Income tax
A
tax paid out by anyone who earns an income
2
Q
tax paid out by anyone who earns an income
A
income tax
3
Q
tax bracket
A
the income ranges in which tax rates apply
4
Q
the income ranges in which tax rates apply
A
tax bracket
5
Q
tax liability
A
the total tax a person or business has to pay
6
Q
the total tax a person or business has to pay
A
tax liability
7
Q
tax return
A
a report that a tax-payer has to submit annually to the government and is used to determine a person’s tax liability
8
Q
a report that a tax-payer has to submit annually to the government and is used to determine a person’s tax liability
A
tax return
9
Q
tax day
A
the annual deadline for filing your income taxes; usually falls on April 15
10
Q
the annual deadline for filing your income taxes; usually falls on April 15
A
tax day
