Tax Vocab Flashcard

Front

Tax on certain goods, especially luxuries and cars.

Back

Excise Tax

Front

Taxable income or investment with no tax collected.

Back

Exemptions

Front

Tax on a decedent's property assessed on the gross estate before heirs receive it.

Back

Estate Tax

Front

Form W-2

Back

Summary of employee earnings and deductions from employer.

Front

Federal Insurance and Contributions Act: Agency overseeing payroll taxes for services like Social Security (6.2%) and Medicare (1.45%).

Back

FICA

Front

A single tax rate for all, e.g., sales taxes.

Back

Flat

Front

Form I-9

Back

Government form to verify citizenship or work authorization in the U.S.

Front

Withholding allowance form for employer

Back

Form W-4

Front

Form 1040EZ

Back

Earn < $100,000/year.

Front

Form 1099

Back

Reports income on which tax was not withheld.