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14-2 Vocabulary jw
| Question | Answer |
|---|---|
| Money taken from pay before the worker receives their paycheck. | Withholding |
| The portion of income subject to taxation. | Taxable income |
| A form used to report income and taxes owed to government. | Tax return |
| The Federal Insurance Contributions Act- a payroll tax that provides coverage for the elderly, unemployed due to disabiltiy, and survivors. | FICA |
| a federal program to aid older citizens, children who have lost a parent, and the disabled. | Social Security |
| a national health insurance program mainly for citizens over 65. | Medicare |
| A tax on property transferred to other's on the death of the owner | Estate tax |
| A tax on assets given by one living person to another. | Gift tax |
| a tax on the production or sale of a specific good or service. | Excise tax |
| a tax on goods imported into the U.S. | Customs Duty |
| Money charged for the use of a good or service. | User fee |
Created by:
joannw15
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