personal income tax
Wages owed government
Personal income tax is a government levy on an individual's earnings—wages, salaries, investment returns, and other income.
Distinguished from corporate taxes, it typically uses graduated rates where higher earners pay larger percentages: Personal income tax accounts for most federal revenue.
Most countries with income taxes impose them on individuals.
- exemptionsReleases from obligation
- head of householdFamily's chief decision-maker
- deductionsConclusions from reasoning
- withholdingKeeping from another
- W-2Employer-issued tax form
credits · employee · marginal tax rate · tax bracket · tax return · tax code · progressive tax · fiscal policy · economic equity · flat tax · audit · public goods · refund · wealth inequality · retiree · filing deadline · tax burden · salary
- taxationtax, sales tax, tax return, tax refund, tax code
personal income taxsales tax
Government percentage on purchases
consumption tax · value-added tax · VAT · property tax · wealth tax
personal income taxgovernment benefits
State-provided citizen support
social security benefits · tax refund · universal basic income · government subsidy · stimulus check