Revenue Tariff A tax on imported goods levied primarily to generate revenue for the federal government.
Regressive Tax A tax that takes a larger percentage of income from low-income groups than from high-income groups.
Refundable Credit When the amount of a credit is greater than the tax owed, taxpayers can receive a "refund" for…
Qualifying Widow(er) filing status If your spouse died in 2010, you can use married filing jointly as your filing status…
Qualifying Relative There are tests that must be met to be a qualifying relative, they are: (1) not a qualifying…
Qualifying Child To be a qualifying child, the dependent must meet eight tests: (1) relationship, (2) age, (3) residence, (4)…
Public Goods and Services Benefits that cannot be withheld from those who don't pay for them, and benefits that may…