A tax that takes a larger share of one’s income as their total income grows

Iowa state income tax is an example of a

Taxes for which the rate stays the same, regardless of one’s income

Colorado has a flat income tax rate. This is an example of a

Taxes that take a smaller share of income as the amount of income grows

A sales tax included in your total restaurant bill would be considered a

Luxury taxes are currently not used in the United States at the federal level

Which item would most likely be given a luxury tax?

IRS stands for

Tax evasion can result in a fine and/or imprisonment

W-2 and 1099 forms are not considered tax records.

Gross income - adjustments =

The amount of tax you owe on income for the year is your

A tax credit is a reduction in tax owed deducted directly from your tax liability.

All taxable income received in a year

Exemptions were eliminated with the Tax Cuts and Jobs Act and are no longer used when filing taxes

It is NOT possible to have your tax refund direct deposited into your bank account

Itemizing deductions can allow some people to pay less in taxes

You are required to list your occupation on your 1040.

The amount of the standard deduction is the same every year

The amount of the standard deduction for 2021 is the same for all tax filers filing as single.