An excise tax is a tax imposed on specific goods, services, activities, or privileges, often included in the price of the product.
State or local taxes applied to various trades or businesses, encompassing permits, licenses, or fees associated with practicing specific professions such as accounting, law, and medicine.
The process of returning cash or a check, typically by the IRS or state tax agency, when the taxpayer's withholding and estimated tax payments exceed their tax liability for the year.
A financial obligation whose interest is exempt from taxation by federal, state, and/or local authorities.
The W-2 Form is a tax form that each employer sends annually to each employee and to the IRS. It includes details of the employee's gross earnings and deductions for federal, state, and local income taxes as well as FICA. Employees are required to attach a copy to their tax returns.
