Married Filing Separate filing status You must be married. This method may benefit you if you want to be responsible…
Married Filing Joint filing status You are married and both you and your spouse agree to file a joint return.…
Market Economy An economic system based on private enterprise that rests upon three basic freedoms: freedom of the consumer to…
Luxury Tax A tax paid on expensive goods and services considered by the government to be nonessential.
Long-Distance Telephone Tax Refund Taxpayers are eligible to file for refunds of all excise tax they have paid on long-distance…
IRS e-file Refers to the preparation and transmission of tax return information to the IRS using telephone lines or a…
Investment Income Includes taxable and tax-exempt interest, dividends, capital gains net income, certain rent and royalty income, and net passive…
Internal Revenue Service (IRS) The federal agency that collects income taxes in the United States.