HHS - Understanding Taxes
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| Money collected by the government through taxes | REVENUE
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| Taxes that take a larger share of income as the amount of income grows | PROGRESSIVE TAXES
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| Taxes for which the rate stays the same regardless of income; also called flat taxes | PROPORTIONAL TAXES
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| Taxes that take a smaller share of income as the amount of income grows | REGRESSIVE TAXES
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| Stated amount taxpayers may subtract from adjusted gross income instead of itemizing their deductions | STANDARD DEDUCTION
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| Income ranges to which different tax rates apply | TAX BRACKET
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| Willful failure to pay taxes | TAX EVASION
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| A tax on the sale or use of specific products or transactions | EXCISE TAX
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| An amount taxpayers may subtract from their income for each person who depends on their income to live | EXEMPTION
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| All the taxable income received during the year, including wages, tips, salaries, interest, dividends, alimony, and unemployment compensation | GROSS INCOME
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| Gross income minus allowed adjustments | ADJUSTED GROSS INCOME
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| Money paid to support a former spouse. | ALIMONY
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| Expenses the law allows taxpayers to subtract from their adjusted gross income to determine their taxable income | DEDUCTION
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| Income on which you will pay tax | TAXABLE INCOME
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| An examination of a tax return by the IRS | AUDIT
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| An amount subtracted directly from the tax owed | TAX CREDIT
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| Money paid to a former spouse to support your children. | CHILD SUPPORT
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