Chapter 2 + 3 Vocab Word Scramble
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| Term | Definition |
| Audit | An examination of income tax returns by the IRS. |
| Benefits | Forms of employer compensation in addition to pay. |
| Dividends | Money payed to stockholders from the corporation's earnings. |
| Exemption | An amount you may subtract from your income for each person who depends on your income to live. |
| Filing Status | Your tax-filing group based on your marital status as of the last day of the tax year. |
| Gross Pay | The total amount an employee earns before deductions are subtracted. |
| Net Pay | The amount left after all deductions are taken from an employee's gross pay. |
| Progressive Tax | A tax that takes a larger share of one's income as the amount of the income grows. |
| Proportional Tax | A tax for which the rate stays the same, regardless of one's income. |
| Salary | A fixed annual amount of gross pay. |
| Tax Bracket | An income range that a tax rate is applied to. |
| Tax Credit | A reduction of taxes owed. |
| Tax Liability | The amount of total tax you owe on a years income. |
| Union | A group of people who work in the same or similar occupations. |
| Wage | A fixed hourly rate, earned by employees. |
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