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tax

tax

1.0
A charge people must pay to the government on income or property
  • noun
  • /tæks/
translation icon : impuesto
  • After reviewing his finances, he decided to consult a professional about his taxes.
  • pay taxes
  • income tax
  • tax cuts

How do you report your taxes and what are some tips?

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Examples

  • We pay taxes to fund public services like education and healthcare.

  • These people pay the highest taxes and they work the hardest.

  • OK, so these are specific taxes on goods.

  • You will file, you will file their taxes by April, right?

  • I was working, paying taxes, going back to school.

  • We pay taxes to the government, and what do we get?

  • Increased personal and corporate taxes would be needed to fund public insurance programs.

    Academic text (2011)
  • By the way, you guys are doing your taxes on early Jan.

  • AT&T declared a $1 billion loss as a result of tax changes in the new law.

    Academic text (2011)
  • Democrats and Republicans agreed on a round of temporary tax cuts and extended jobless benefits in December 2010.

    Academic text (2011)

Synonyms

duty
vstax
71 3.0

A tax you pay on goods brought into or sent out of a country

is a broader compulsory charge on income property or activities for public revenue

Antonyms

599 3.2

A government decision to reduce the taxes people have to pay

exemption
  • Formal
27 5.1

A fixed tax deduction that reduces the tax someone must pay for themselves or for people they support

Compounds

599 3.2

A government decision to reduce the taxes people have to pay

242 2.3

Money people or companies pay to the government on what they earn each year

168 2.3

The percent of income or profit that you must pay to the government

165 3.0

A rise in the money people pay to the government as taxes

tax credit
  • Specialized
148 3.2

An amount taken off the tax you owe

tax break
  • Specialized
98 3.0

A smaller tax people or companies must pay to encourage certain activities

85 3.2

A tax local governments charge on houses and land based on how much they are worth

76 3.2

An official paper you send to the tax office that shows your income to work out tax

75 1.8

A tax added to the price when you buy goods or services

53 3.2

Money a government gets from taxes on people, businesses, or sales

capital gains tax
  • Specialized
47 5.4

A tax on the profit you make when you sell things like stocks or property

42 2.3

A paper that tells a person or business how much tax they have to pay

tax evasion
  • Formal
32 5.3

Not paying taxes on purpose by hiding income or lying to tax officials

30 3.6

Rules a government uses to set and collect taxes from people and businesses

estate tax
  • Specialized
29 4.8

A tax on someone's money and property when they die before their family gets it

26 3.3

An increase in the taxes people or companies pay

tax law
  • Specialized
25 2.9

Rules that tell how governments set and collect taxes

tax policy
  • Formal
24 3.9

A government's plan for how it charges and collects money from people and companies

tax deduction
  • Specialized
22 3.4

An expense or amount you can subtract from your income to lower your tax

tax base
  • Specialized
18 4.2

The total value of income, goods, or sales a government can collect money from

tax bracket
  • Specialized
15 3.6

A range of income taxed at one rate

15 4.6

You do not have to pay tax on income or a purchase

13 3.6

A person who takes money from people to pay taxes to the government

13 3.4

Extra money that the government adds to the price of fuel to pay for roads and bridges

tax form
  • Formal
12 2.8

An official paper you use to tell the government how much money you earn and owe in tax

11 4.4

A plan or investment that helps people and companies pay less money to the government

excise tax
  • Specialized
11 5.5

A tax on goods like tobacco and alcohol charged for each item or amount sold

tax liability
  • Specialized
10 5.1

Total amount of tax a person or business must pay to the government

tax benefit
  • Specialized
9 3.7

A rule that lets people or companies pay less tax to encourage certain activities

8 7.8

A fixed tax each person must pay that often stops people from voting

8 4.7

A country with very low taxes that attracts foreign companies and rich people

8 5.9

A government charge on property given to people after someone dies

8 3.6

A form you send to the tax office showing your income and expenses

value-added tax
  • Specialized
6 4.0

A tax added to the price of goods and services each time a business makes or sells them

6 3.3

The work of getting money from people and businesses for the government

6 3.8

An amount you can subtract from your income to reduce the tax you pay

tax-exempt
  • Specialized
6 4.5

A bond whose interest you do not have to pay tax on

5 3.0

Money a government gets from taxes people and businesses pay

4 6.0

A person or group that opposes tax increases

A tax on money or property you receive when someone dies

A tax system where people with higher incomes pay a larger percentage of their income

tax avoidance
  • Specialized
4 3.4

To reduce the tax you must pay by using methods allowed by law

tax lien
  • Specialized
3 7.6

A claim by the government on property like a house for unpaid taxes that lets the government take it

sin tax
  • Literature
3 5.3

A tax on products people think are harmful, like alcohol or tobacco

gift tax
  • Formal
3 6.0

A tax on money or things given without payment while the giver is alive

3 5.1

An extra cost added to a price that people who buy it do not clearly see

tax assessor
  • Formal
3 6.0

An official who decides how much a house or land is worth for taxes

tax advantage
  • Specialized
3 3.5

A rule that lets you pay less tax on certain income or investments

direct tax
  • Specialized
2 4.2

A tax that a person or business pays directly to the government, not added to the price of goods

tax program
  • Formal
2 3.4

A government's plan for how it sets and collects taxes

estimated tax
  • Specialized
1 7.0

Money paid in regular payments to the government on income your employer does not take from your pay

license tax
  • Formal
1 5.2

A fee the government charges to get permission to sell things or do some jobs

A group that sets the tax rate people pay based on yearly earnings

tax obligation
  • Specialized
1 4.1

A duty to pay taxes to the government by law

withholding tax
  • Specialized
1 4.4

A tax taken from an employee's pay by the employer and sent to the government

1 3.2

A payment to the local government for owning land

1 3.7

An official value of property or income that shows how much tax you must pay

1 8.0

An illegal way to avoid paying taxes

transfer tax
  • Formal
1 6.3

A charge you pay when property goes from one person to another

1 4.1

A tax charged by the local council based on a home's value and the people living there

1 3.7

A tax added to the price of goods or services

1 5.8

The part of your pay the government takes

single tax
  • Specialized
1 7.5

A system where people pay only one government charge, usually on land value

1 7.7

A tax charged as a percent of the price of goods or services

1 5.5

A law that lowers taxes or stops tax increases

federal tax lien
  • Specialized
1 8.1

A right the federal government takes on your property when you do not pay taxes you owe

franchise tax
  • Specialized
1 7.9

A tax some US states charge companies for the right to do business there based on their value or income

graduated tax
  • Specialized
1 4.9

A system where people pay a higher share of their income as income rises

1 7.2

A payment you make by buying an official stamp and putting it on certain documents

state tax lien
  • Specialized
1 7.9

A claim a state makes on your property when you do not pay taxes, so it can sell the property

stupidity tax
  • Informal
1 8.9

A loss or extra cost you get after making a careless mistake

cheese tax
  • Informal
7.4

A joking name for a government charge on cheese, including imported cheese

A form a taxpayer files to say how much tax they expect to owe when tax withheld is not enough

How High

surtax
  • Formal
7 7.5
tax
1.0
charge
755 2.3
exemption
  • Formal
27 5.1

Surface Forms

tax singular
taxes plural

Etymology

Tax comes from the Latin taxare, meaning 'to estimate', and from an old word for a fixed charge. So a tax is a required payment a government makes to raise money for public services.