ch 23 summery

Chapter 23 is a chapter of two lessons where it teaches you how to do taxes and how they work, where do they go and etc., section 23.1 talks about taxes that are payments that people must make to support federal, state, and local governments. Internal Revenue Services or IRS-is the agency that collects federal taxes and oversees the federal tax system...Common taxes include income taxes. Withhold, - or take out, money fo from your paychecks to go pay incometax due on your wages. It also talks abut the tax dollars that pay for a wide range of services, such as education, transportation, and military services, it also shows you how can you influence the way that tax dollars are spent by voting for officials who represent our views, a good tax system should be fair, simple, convenient, stable, and flexible. Incometax return- is a form that shows how much you earned from working and made from other sources.When your income tax return shows how much income you received and how much tax you owe, and from your w-4 you will tell your employer how much tax to withhold and from the w-2 you will be able to find out how much you earned. Exemption- is a fixed amount of money that is excused from taxes. Deduction- is an expense that you are allowed to subtract from you income. Then section 23.2 is about the money that social security benefits comes chiefly from social security taxes paid by workers and employers and how the government uses you social security number to keep track of your contributions Work credits- are measurements of how long you've worked. work history and the benefits include disability benefits survivors’ benefits, retire benefits, and health insurance benefits and it talks abut the two state run programs that provide benefits for workers are unemployed insurance and workers’ comensation.