Tax Terms

Front

What does the gross pay amount refer to?

Back

total amount before deductions and taxes

Front

What is Priya's Net Pay?

Back

total amount after deductions and taxes

Front

1040

Back

Form that is used to file your taxes.

Front

I9

Back

Form that determines your ability to work (citizenship)

Front

W2

Back

Form that you receive that shows your wages for the year

Front

W4

Back

Form that you fill out when you start a job

Front

David, who is a college student, relies on his parents for income and care. What is David considered as?

Back

Dependent

Front

Medicare

Back

Program that provides medical care for elderly and disabled

Front

What is Social Security?

Back

Program that provides retirement income to elderly and disabled

Front

Charlotte is reviewing her paycheck and notices a deduction labeled FICA. What does this deduction fund?

Back

Taxes that fund Social Security and Medicare