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Electronic filing, or e-file, is the process of sending your tax return directly to the IRS using a computer, phone, or other electronic device. Understanding Electronic Filing (e-file) Gone are …
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The Earned Income Credit is a tax credit for eligible workers with low to moderate income, helping reduce their taxes and often increasing their refund. Understanding the Earned Income Credit …
What Is the Earned Income Credit? – Simple and Easy Explanation Read More
Earned income includes wages, salaries, tips, and self-employment earnings that count toward your taxable income. Understanding What Earned Income Really Means When you file your taxes, one of the most …
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A direct tax is a tax paid straight to the government by the person or entity responsible for it and cannot be shifted to someone else. Understanding What a Direct …
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Direct Deposit is a fast, safe, and convenient way to have your tax refund sent straight to your bank account instead of receiving a paper check. Understanding How Direct Deposit …
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A dependent is a qualifying child or qualifying relative who allows a taxpayer to claim certain tax benefits, including the dependency exemption. Understanding What a Dependent Really Is When you …
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A dependency exemption is a set amount taxpayers can claim for each qualifying child or qualifying relative, reducing the income that is subject to tax. Understanding What a Dependency Exemption …
What Is a Dependency Exemption? – Simple and Easy Explanation Read More
A deficit happens when the government spends more money than it brings in through taxes and other sources of revenue. Understanding What a Deficit Really Means The word deficit comes …
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A compulsory payroll tax is an automatic tax taken from employers and employees to fund specific government programs such as Social Security and Medicare. Understanding Compulsory Payroll Taxes When you …
What Is a Compulsory Payroll Tax? – Simple and Easy Explanation Read More
A commission is compensation paid to an employee based on the sales they make, usually calculated as a percentage or a set amount per sale. Understanding What a Commission Really …
What Is a Commission? – Simple and Easy Explanation Read More