Politics and Economics                         Vocabulary 2                                        Mr. Thacker

 

Section 4:  Taxation and CWP

 

Identify and/or Explain

 

  1. Fiscal year
  2. “pay-as-you-earn
  3. Ability-to-pay
  4. Withholding
  5. Tax return
  6. Taxable income
  7. Personal exemptions
  8. Deductions
  9. IRS
  10. Tax brackets
  11. Corporate income tax
  12. FICA
  13. Social Security
  14. VAT tax
  15. Medicare
  16. Unemployment taxes
  17. Excise tax
  18. Estate tax
  19. Gift tax
  20. Tariffs
  21. Tax incentive