Monday, February 25, 2008

Chapter 23 Key Terms

IRS:agency that collects federal taxes and oversees the federal tax system
Withhlod:take out money from your paycheck to pay income tax due on your wagesincome tax return: a form that shows how much you earned from working and made from other sources
Exemption:a fixed amount of money that is excused from
taxes deduction:an expense that you are allowed to subtract from your income.
Work credits:are measurements of how long you've worked.
Disabled worker:someone who can ont work cause of enjury
Medicare:benefits that are for health
unemployment insurance: not working
Workers compensation:money paid to workers who are hurt

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