Examlex
Business letters should contain all of the following EXCEPT ____.
Tax Liability
The total amount of tax owed to the government after all deductions, credits, and prepayments have been taken into account.
Tax Refund
The amount of money returned to a taxpayer by the government when the taxpayer's total tax payments exceed their tax liability for a given year.
Proportional Tax
A tax system where the tax rate remains constant regardless of the amount subject to tax.
Federal Income Tax
A tax levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
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