CHAPTER 22 SECTION 2

1.Individual income, Corporate income, Social insurance, Excise, Estate, and Gift.
A tax return.

2.They would not be in the same tax bracket because $15,000 gives less of a return tax.

3.When you give someone over $12,000.

4.Tax Incentive is a tax used to discourage or encourage types of behavior.

5.Pay-as-you-earn taxation means individuals usually pay most of their income tax throughout the year.

6. This system is important because it gives you an easier way to pay their income tax. If the government did not use this system, then everyone would have to pay their income taxes at the same time, and either something will fail or the people won’t have the correct amount of money.

7. They both include FICA taxes.

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