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Related Flashcards
Cards In This Set
| Front | Back |
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Five filling groups
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Individuals in General
Dependents
Children
Self-Employed individuals
Aliens
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TAXPAYER
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AN INDIVIDUAL SUBJECT TO ANY IRS TAX. ALL CITIZENS OF THE US AND ALL INDIVIDUALS RESIDENT IN THE U.S ARE SUBJECT TO IRS TAX.
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TAX YEAR
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THE ANNUAL PERIOD USED FOR KEEPING TAX RECORDS AND REPORTING INCOME AND EXPENSES
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EARNED INCOME
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INCOME RECEIVED FOR SERVICES, SUCH AS WAGES, SALARIES, TIPS, NET EARNINGS FROM SELF-EMPLOYMENT AND PROFESSIONAL FEES AND ANY OTHER INCOME RECEIVED AS PAY FOR WORK ACTUALLY PERFORMED. ALSO INCLUDES TAXABLE SCHOLARSHIP AND FELLOWSHIP GRANTS.
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UNEARNED INCOME
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INVESTMENT INCOME (SUCH AS INTEREST, DIVIDENDS AND CAPITAL GAINS) AND OTHER INCOME THAT IS NOT GENERATED BY PERSONAL SERVICE (SUCH AS UNEMPLOYMENT COMPENSATION, TAXABLE SOCIAL SECURITY BENEFITS ,PENSIONS , ANNUITIES AND ALIMONY.
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