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U3 L1 Vocabulary

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Term
Definition
taxes   show
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show A ______________ is a person who pays taxes to federal, state, county, city, and/or town governments.  
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show A _______________ is a group of people working together for a common good.  
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show _____________ is money you earn from a job or get by another source over a period of time. It includes earned income like wages earned from working and unearned income like interest made on savings.  
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income tax   show
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show _____________ income is money earned from working.  
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unearned   show
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show The Internal Revenue Service (_________) is a federal agency that is responsible for collecting taxes for the US government.  
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show The ______ Department of Revenue is a state agency that is responsible for collecting taxes for the state of North Carolina.  
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W-4   show
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dependent   show
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15th   show
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W-2   show
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show If you are single, make less than $100,000 per year, have no children, and are younger than 65, you should use the _________ federal tax form. You can obtain this form online from the IRS website or at your local library.  
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show If you live in North Carolina, are single, and earn more than $5,500 per year, you should use the __________ form to file your state income taxes.  
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