Income Tax terms starting with A

5 terms

1. ability to pay A concept of tax fairness that states that people with different amounts of wealth or different amounts of income should pay tax at different rates.
2. Adjusted gross income (AGI) Your AGI is your gross, or total, income from taxable sources minus certain deductions.
3. amount due Money that taxpayers must pay to the government when the total tax is greater than their total tax payments
4. Appeal To call for a review of an IRS decision or proposed adjustment.
5. Authorized IRS e-file Provider A business authorized by the IRS to participate in the IRS e-file Program. The business may be a sole proprietorship, a partnership, a corporation, or an…