A tax a government imposes on the income of a person or business to fund governmental activities.

Related Lessons

• Click Here for our lesson on Taxation Overview
• Click Here for our lesson on Income Tax Filing and the Form 1040
• Click Here for our lesson on Tax Credits and Deductions
• Click Here for our lesson on Tax Additions: Situations Requiring You to Pay Extra Income Tax
• Click Here for our lesson on When to Hire a Tax Professional