individual taxpayers
Non-corporate tax payers
Individual taxpayers are people who file tax returns in their own names, as distinct from businesses, corporations, or other entities.
Tax codes often distinguish between individual taxpayers and corporate taxpayers, with different rates, deductions, and filing requirements: The new law affects individual taxpayers earning over $200,000.
The phrase emphasizes the person-by-person nature of tax obligation.
- W-2 formsAnnual earnings and withholding reports
- 1040 formFederal income declaration
- retirement accountsLong-term savings vehicles
- filing statusIRS household classification
- adjusted gross incomeEarnings after initial subtractions
withholding · compliance · civic responsibility · charitable contributions · government revenue · itemized deductions · standard deduction · financial advisor · Roth IRA · W-2 form · fiscal policy · economic inequality · consumption patterns · social welfare programs
individual taxpayerscorporations
Legally incorporated business entities
business entities · trusts · estates · partnerships · LLCs
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