Electronic Preparation Electronic preparation means that tax preparation software and computers are used to complete tax returns. Electronic tax preparation…
Electronic Filing (e-file) The transmission of tax information directly to the IRS using telephones or computers. Electronic filing options include…
Earned Income Credit A tax credit for certain people who work, meet certain requirements, and have earned income under a…
Earned Income Includes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.
Direct Deposit This allows tax refunds to be deposited directly to the taxpayer's bank account. Direct Deposit is a fast,…
Dependency Exemption Amount that taxpayers can claim for a "qualifying child" or "qualifying relative". Each exemption reduces the income subject…
Compulsory Payroll Tax An automatic tax collected from employers and employees to finance specific programs.
Commission Compensation received by an employee for services performed. Commissions are paid based on a percentage of sales made or…