Meaning & use

federal tax income

noun·AdvancedbusinessfinanceAmerican

Last updated

UK/ˌfedərəl ˈtæks ˌɪnkʌm/
US/ˌfedərəl ˈtæks ˌɪnkʌm/

Meanings

  1. noununcountablebusinessfinanceAmerican

    Money received that is subject to tax by the national government, or the tax paid on such income.

    Grammar: Usually uncountable, so no plural: report your federal tax income, not "federal tax incomes".

    Patterns

    • report federal tax income
    • federal tax income from something

    She reported all her federal tax income on the form.

    The accountant explained how federal tax income is calculated.

    His federal tax income included wages and interest from savings.

  2. noununcountablebusinessfinanceAmerican

    The national government's revenue from taxes on people's earnings.

    Grammar: Often appears in budget discussions: federal tax income rose this year.

    Patterns

    • federal tax income rises/falls
    • a source of federal tax income

    Federal tax income rose after the new rules took effect.

    The report showed that federal tax income covers most government spending.

Common combinations

report federal tax income
You must report federal tax income by April 15.
federal tax income from wages
Most federal tax income from wages is withheld automatically.
calculate federal tax income
Tax software can calculate federal tax income quickly.
federal tax income bracket
Their federal tax income bracket changed after the promotion.

Synonyms and how they differ

federal income tax
The standard term for the tax itself; use it when you mean the tax rather than the income.
taxable income
A general term for income that can be taxed, not specifically by the national government.

Word family

federal income tax noun
The common name for the US national tax on earnings.
taxable income noun
Income that is eligible to be taxed.

Commonly confused: federal tax income or federal income tax?

federal tax income vs federal income tax

This is the usual phrase for the tax; "federal tax income" is less common and can sound awkward.

Practice

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