Volunteer Income Tax Assistance (VITA) This provides free income tax return preparation for certain taxpayers. The VITA program assists taxpayers…
Voluntary Compliance A system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their…
Vertical Equity The concept that people in different income groups should pay different rates of taxes or different percentages of…
Underground Economy Money-making activities that people don't report to the government, including both illegal and legal activities.
Transmitter Sends the electronic return data directly to the IRS.
Transaction Taxes Taxes on economic transactions, such as the sale of goods and services. These can be based on a…
Tip Income Money and goods received for services performed by food servers, baggage handlers, hairdressers, and others. Tips go beyond…