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Ta 1. Match the Vocabulary word with the definition below. (18 pts.) N 1. Payroll Taxes 2. FICA tax 3. Taxes 4. Tax Revenue
Ta 1. Match the Vocabulary word with the definition below. (18 pts.) N 1. Payroll Taxes 2. FICA tax 3. Taxes 4. Tax Revenue 5. Property Taxes 6. Income Tax 7. Withholding 8. Internal Revenue Service a. "Federal Insurance Contribution Act" that funds social security and Medicare. b. FICA tax, Medicare tax, federal income tax, state income tax, and other local taxes are all part of a specific tax. c. Government income that they get from taxes. d. This is money that is withheld from your paycheck by your employer and given to the government to use. e. The federal bureau that is in charge of collecting income tax and processing tax returns. f. You pay these taxes if you own a home, boat, car, ATV, etc. g. Taxes that you pay based on your salary, hourly wage, tips, or interest. h. Payments to governments that are then used for public goods and services. + i. A certain percentage is taken out of your income and is used to fund this program. 9. Medicare
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