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Adolescents who receive a lot of phone calls usually interpret this as:
Payroll Tax
Dues collected from employees or employers, calculated by taking a fraction of the pay employers give to their workers.
Taxable Income
The amount of income that is subject to income tax after all deductions, exemptions, and adjustments have been accounted for.
Deductions And Exemptions
Specific amounts that taxpayers can subtract from their gross income to reduce taxable income, potentially lowering their tax liability.
Federal Income Taxes
Taxes levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
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