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tax

tax

∞ 1.0
A charge people must pay to the government on income or property
  • noun
  • /tæks/
: 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
25 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

608 3.2

A government decision to reduce the taxes people have to pay

exemption
  • Formal
57 5.1

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

Compounds

608 3.2

A government decision to reduce the taxes people have to pay

274 2.3

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

206 3.0

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

199 2.3

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

tax credit
  • Specialized
128 3.2

An amount taken off the tax you owe

113 3.2

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

tax break
  • Specialized
99 3.0

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

83 3.2

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

78 1.8

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

69 3.2

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

61 2.3

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

capital gains tax
  • Specialized
45 5.4

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

37 3.6

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

estate tax
  • Specialized
37 4.8

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

tax law
  • Specialized
36 2.9

Rules that tell how governments set and collect taxes

tax evasion
  • Formal
35 5.3

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

34 3.3

An increase in the taxes people or companies pay

tax deduction
  • Specialized
32 3.4

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

28 4.6

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

tax policy
  • Formal
26 3.9

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

tax base
  • Specialized
20 4.2

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

tax bracket
  • Specialized
19 3.6

A range of income taxed at one rate

18 3.0

Money a government gets from taxes people and businesses pay

tax form
  • Formal
16 2.8

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

tax benefit
  • Specialized
15 3.7

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

15 3.6

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

14 3.4

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

14 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

11 5.9

A government charge on property given to people after someone dies

tax liability
  • Specialized
10 5.1

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

10 3.6

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

9 4.7

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

9 3.8

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

9 7.8

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

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

tax program
  • Formal
8 3.4

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

value-added tax
  • Specialized
8 4.0

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

7 3.3

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

A tax on money or property you receive when someone dies

tax lien
  • Specialized
5 7.6

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

tax advantage
  • Specialized
5 3.5

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

direct tax
  • Specialized
5 4.2

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

5 5.1

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

tax avoidance
  • Specialized
4 3.4

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

withholding tax
  • Specialized
4 4.4

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

estimated tax
  • Specialized
4 7.0

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

gift tax
  • Formal
4 6.0

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

sin tax
  • Literature
4 5.3

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

single tax
  • Specialized
3 7.5

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

tax assessor
  • Formal
3 6.0

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

license tax
  • Formal
3 5.2

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

3 8.0

An illegal way to avoid paying taxes

transfer tax
  • Formal
2 6.3

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

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

graduated tax
  • Specialized
2 4.9

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

2 3.7

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

2 3.2

A payment to the local government for owning land

tax obligation
  • Specialized
2 4.1

A duty to pay taxes to the government by law

2 7.2

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

2 3.7

A tax added to the price of goods or services

2 3.7

A rise in the money the government takes from people or businesses

1 5.8

The part of your pay the government takes

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

1 4.1

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

non-tax
  • Specialized
1 4.8

Money a government gets from fees, fines, or charges, not taxes

tax depreciation
  • Specialized
1 5.8

An amount a business subtracts from taxes each year for a machine or building

federal tax lien
  • Specialized
1 8.1

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

1 7.7

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

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

tax program
  • Specialized
1 3.4

A computer program that helps people calculate and file tax returns

Apple tax
  • Literature
1 6.9

Extra money you pay for Apple products compared with similar items

How High

surtax
  • Formal
7 7.5
tax
∞ 1.0
charge
267 2.3
exemption
  • Formal
57 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.