A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- W-2A form your employer sends each year showing how much you earned and how much tax was withheld from your pay.
- 1099A family of forms reporting income you earned outside a regular job, such as freelance work or investment payouts.
- Filing StatusA category based on your marital and household situation that affects your tax rates, deductions, and eligibility.
- Tax RefundMoney the government returns to you when you paid more tax during the year than you actually owed.
- Tax LiabilityThe total amount of tax you owe to the government for a given year before subtracting payments already made.
More in Taxes
Adjusted Gross Income (AGI)Alternative Minimum Tax (AMT)Capital Gains TaxChild Tax CreditDependentDividend Tax
Plain-English education — not personalized legal, tax, or investment advice.