Fees that the government requires people to pay in order to live and work in their state and the USA.

A person who pays taxes to federal, state, county, city and/or town governments.

A group of people working together for a common good.

A person who relies on another person, usually a family member, for financial support.

Money you earn from a job or another source over a period of time. It includes both earned and unearned income.

A tax that a person pays on his or her earned and unearned income.

Money earned from sources other than working.

Internal Revenue Service(IRS)

A federal agency responsible for collecting taxes for the U.S. government.

NC Department of Revenue

A state agency responsible for collecting taxes for the state of North Carolina.

This is your total Federal and State income tax owed each year. You must pay both each year.

A form required to be completed when you get a job. This form is usually completed on your first day of work.

Date you must file your State and Federal Income taxes by.

Date you should receive your W-2 form from your employer so you can file your tax return.

A form that shows you how much money you made and how much you paid in taxes from the previous year.

The form people use to report income to the IRS, claim tax deductions and credits, and calculate their tax refund or tax bill for the year.

Income tax return form used by residents of North Carolina to report their income and calculate their state income tax.

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FM M3 Vocab

Vocabulary

Question	Answer
Taxes	Fees that the government requires people to pay in order to live and work in their state and the USA.
Taxpayer	A person who pays taxes to federal, state, county, city and/or town governments.
Community	A group of people working together for a common good.
Dependent	A person who relies on another person, usually a family member, for financial support.
Income	Money you earn from a job or another source over a period of time. It includes both earned and unearned income.
Income Tax	A tax that a person pays on his or her earned and unearned income.
Earned Income	Money earned from working
Unearned Income	Money earned from sources other than working.
Internal Revenue Service(IRS)	A federal agency responsible for collecting taxes for the U.S. government.
NC Department of Revenue	A state agency responsible for collecting taxes for the state of North Carolina.
Total Income Tax	This is your total Federal and State income tax owed each year. You must pay both each year.
W-4 Form	A form required to be completed when you get a job. This form is usually completed on your first day of work.
April 15	Date you must file your State and Federal Income taxes by.
January 31	Date you should receive your W-2 form from your employer so you can file your tax return.
W-2 Form	A form that shows you how much money you made and how much you paid in taxes from the previous year.
E-File	Filing your taxes online
1040 Form	The form people use to report income to the IRS, claim tax deductions and credits, and calculate their tax refund or tax bill for the year.
D-400	Income tax return form used by residents of North Carolina to report their income and calculate their state income tax.

Created by: mrichards102

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