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Pp.137-156.  Child support  The ability to pay.

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Presentation on theme: "Pp.137-156.  Child support  The ability to pay."— Presentation transcript:

1 pp.137-156

2  Child support

3  The ability to pay

4  Regressive

5  Excise taxes

6  Regressive

7  Congress  National defense  Highways  Wildlife refuges  Welfare  Foreign aid

8  Proportional Taxes

9  Progressive tax

10  It must pass a vote in both the House and Senate and then be signed by the President.

11  revenue

12  Collect Income taxes  Enforce tax laws

13  Congress

14  Earned income

15  Ranges of income

16  Deficit/shortage

17  Flat taxes

18  Regressive taxes

19  Voluntary Compliance

20  Internal Revenue Service

21  Businesses  Individuals

22  Regressive

23  dependent

24  Evasion

25  Proportional/flat

26  Fine  Imprisonment  both

27  Progressive taxes

28  Audit

29  1040A

30  Tax rates increase as taxable income increases

31  alimony

32  Office

33  Adjusted gross income

34  Correspondence

35  Field

36  Filing status

37  Single  Married filing a joint return  Married filing a separate return  Head of Household  Qualifying widow

38  Each employer you had for the year

39  Exemption

40  spouse

41  Salaries  Wages  Tips  Taxes withheld

42  1040EZ  1040A

43  Wages  Salary  Tips

44  Interest  Dividends  Alimony  Unemployment  Workers compensations  Scholarships  Grants

45  Non-taxable income ◦ Child support ◦ Gifts ◦ Inheritances ◦ Life Insurance benefits ◦ Veterans benefits

46  Gross Income

47  Tax deduction is subtracted from adjusted gross income  Tax credit is subtracted from what you owe

48  Unearned income

49  Itemized deductions

50  Standard deduction

51

52  Taxable income

53  Tax credit

54  April 15

55  6 years

56  Education  Parks  Roads  Police, fire, health departments

57


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