302 Taxes

  • Ability to Pay

    A concept of tax fairness that states that people with different amounts of wealth or different amounts of income should pay tax at different rates. Wealth includes assets such as…

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  • Adjusted Gross Income (AGI)

    Gross income reduced by certain amounts. Gross income can include wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return. Deductions can…

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  • Amount Due

    Money that taxpayers must pay to the government when the total tax is greater than their total tax payments

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  • Appeal

    To call for a review of an IRS decision or proposed adjustment.

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  • Authorised IRS e-file Provider

    A business authorized by the IRS to participate in the IRS e-file Program. The business may be a sole proprietorship, a partnership, a corporation, or an organization. Authorized IRS e-file…

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  • Benefits Received

    A concept of tax fairness that states that people should pay taxes in proportion to the benefits they receive from government goods and services.

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  • Bonus

    Compensation received by an employee for services performed. A bonus is given in addition to an employee’s usual compensation.

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  • Business

    A continuous and regular activity that has income or profit as its primary purpose.

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  • Citizen or Resident Test

    Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim a dependency exemption for persons who are U.S. citizens for some part of the…

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  • Compulsory Payroll Tax

    An automatic tax collected from employers and employees to finance specific programs.

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