-
nounsomeone who pays taxestype of:
Definition that contains taxpayer
- return document giving the tax collector information about the taxpayer's tax liability
- return document giving the tax collector information about the taxpayer's tax liability
- deduction a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
- exemption a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
- business expense ordinary and necessary expenses incurred in a taxpayer's business or trade
- declaration of estimated tax return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year
- estimated tax income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability
- estimated tax return return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year
- federal tax lien lien of the United States on all property of a taxpayer who fails to pay the federal government the taxes for which he or she is liable
- income bracket a category of taxpayers based on the amount of their income