Tax Terms
A to D
April 9, 2018 Tax Terms
AGlossary Sponsered by: New York Tax Directoryability to payA concept of tax fairness that states that people with different amounts of wealth or different amounts of income should pay tax at diff Read More
E to G
Eearned incomeIncludes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.Earned Income CreditA tax credit for certain people who work, meet certain Read More
H to M
HHead of Household filing statusYou must meet the following requirements: 1. You are unmarried or considered unmarried on the last day of the year. 2. You paid more than half the cost of keeping up Read More
N to Q
NNew York Tax Directory | Taxsaver Enterprise Islipnonrefundable creditWhen the amount of a credit is greater than the tax owed, taxpayers can only reduce their tax to zero; they cannot receive a Read More
R to T
TtariffA tax on products imported from foreign countries.taxable interest incomeInterest income that is subject to income tax. All interest income is taxable unless specifically avo Read More
U to Z
Uunderground economyMoney-making activities that people don’t report to the government, including both illegal and legal activities.user feesAn excise tax, often in the form of a license or sup Read More