Dependent

Dependent A qualifying child or qualifying relative, other than the taxpayer or spouse, who entitles the taxpayer to claim a…

4 years ago

Dependency Exemption

Dependency Exemption Amount that taxpayers can claim for a "qualifying child" or "qualifying relative". Each exemption reduces the income subject…

4 years ago

Deficit

Deficit The result of the government taking in less money than it spends.

4 years ago

Compulsory Payroll Tax

Compulsory Payroll Tax An automatic tax collected from employers and employees to finance specific programs.

4 years ago

Commission

Commission Compensation received by an employee for services performed. Commissions are paid based on a percentage of sales made or…

4 years ago

Citizen or Resident Test

Citizen or Resident Test Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim…

4 years ago

Business

Business A continuous and regular activity that has income or profit as its primary purpose.

4 years ago

Bonus

Bonus Compensation received by an employee for services performed. A bonus is given in addition to an employee's usual compensation.

4 years ago

Benefits Received

Benefits Received A concept of tax fairness that states that people should pay taxes in proportion to the benefits they…

4 years ago

Authorized IRS e-file Provider

Authorized IRS e-file Provider A business authorized by the IRS to participate in the IRS e-file Program. The business may…

4 years ago