Every money word on this site, in plain English. Tap a dotted word on any page to see its card.
An employer retirement plan you fund from your paycheck, often with an employer match. Traditional contributions cut income tax now; Roth contributions are taxed now and come out tax-free later.
Seen onBenefits enrollment, pay stubs, W-2 box 12 (code D or AA).
Example2026 limit: $24,500, plus $8,000 at 50 or older ($11,250 at ages 60 to 63).
Savings & retirement →A mortgage whose rate is fixed for an opening period, then resets to an index plus a margin, within caps.
Seen onLoan Estimate page 3 ('Adjustable Interest Rate (AIR) Table').
ExampleA 5/6 ARM is fixed for 5 years, then adjusts every 6 months.
Interest rates →Total income minus certain adjustments (pre-tax retirement contributions already come off your W-2). Many credits and deductions phase out based on it.
Seen onForm 1040, line 11a on the 2025 form.
Taxes →The price your insurer has agreed to pay a provider for a service. Your share is figured on this number, not the provider's list price.
Seen onExplanation of Benefits ('Allowed').
Health insurance →Paying a loan off with equal payments, where each payment covers that month's interest first and the rest reduces what you owe.
Seen onYour loan's amortization schedule; the Loan Estimate's 'In 5 Years' line.
ExampleOn a $300,000 loan at 7%, the first $1,995.91 payment is $1,750 interest and only $245.91 principal.
Mortgage →The yearly cost of a loan expressed as a rate, including certain fees as well as interest. It is the number to compare between lenders, not the note rate alone.
Seen onLoan Estimate page 3, Closing Disclosure page 5, credit card statements and offers.
ExampleA 7.00% mortgage of $300,000 with $8,000 of lender fees has an APR of about 7.27%.
Interest rates →What a deposit actually earns in a year once compounding is counted. Banks must quote it on savings accounts and CDs.
Seen onSavings and CD advertisements, account disclosures (Truth in Savings, Regulation DD).
Example5.00% compounded daily is an APY of 5.13%.
Interest rates →Moving a card balance to another card, often at a promotional 0% rate, usually for a fee of 3% to 5% of the amount moved.
Seen onCard offers, the 'Fees' section of the card agreement.
Credit & debt →One hundredth of a percentage point. 25 basis points is 0.25%.
Seen onFed announcements ('raised by 25 basis points').
Interest rates →How long a cost paid now (points, refinance fees) takes to earn itself back through lower payments.
Seen onRefinance quotes, points comparisons.
Example$6,000 of costs saving $200 a month breaks even in 30 months.
Mortgage →Profit from selling an investment. Held over a year, gains get lower rates: 0% up to $49,450 of taxable income for single filers in 2026.
Seen onForm 1099-B, Schedule D.
Taxes →For 2025 to 2028, up to $10,000 a year of interest on a loan for a new, U.S.-assembled personal vehicle is deductible, even if you do not itemize. It phases out above $100,000 of income ($200,000 joint).
Seen onSchedule 1-A (Form 1040), Part IV; the vehicle's VIN and window label for final assembly.
Car loans →A manufacturer discount off the price. Often offered instead of, not alongside, a 0% financing deal.
Seen onManufacturer incentive pages, dealer advertisements.
Car loans →Extra contributions allowed from age 50. For 2026: $8,000 more in a 401(k) ($11,250 at ages 60 to 63) and $1,100 more in an IRA.
Seen onIRS Notice 2025-67, your plan's enrollment page.
Savings & retirement →A deposit you agree to leave for a set term in exchange for a fixed rate. Early withdrawal usually costs some interest.
Seen onBank rate boards, Truth in Savings disclosures.
Interest rates →Fees and prepaid items due when the loan closes: lender fees, appraisal, title insurance, recording fees, prepaid interest and the first escrow deposits.
Seen onLoan Estimate page 2, Closing Disclosure pages 2 and 3.
Mortgage →The five-page final version of your loan's terms and costs. You must receive it at least three business days before closing.
Seen onThree days before closing; compare it against your Loan Estimate.
Mortgage →Your percentage share of a covered bill after the deductible, such as 20%. It continues until you reach the out-of-pocket maximum.
Seen onSummary of Benefits and Coverage; Explanation of Benefits.
ExampleAfter the deductible, 20% coinsurance on a $10,000 surgery is $2,000.
Health insurance →Interest that earns interest. Each period's interest is added to the balance, so the next period's interest is figured on a bigger number.
Seen onSavings disclosures ('compounded daily'), credit card agreements, retirement projections.
Example$10,000 at 7% for 30 years grows to about $76,000; with simple interest it would be $31,000.
Interest rates →A mortgage small enough for Fannie Mae or Freddie Mac to buy. In 2026 the baseline limit for a one-unit home is $832,750 (higher in costly areas).
Seen onLender rate sheets, FHFA's yearly limit announcement.
Mortgage →The government's monthly measure of what a typical basket of goods and services costs. Its change over twelve months is the usual inflation number.
Seen onBLS releases; Social Security's yearly cost-of-living adjustment uses a version of it.
Interest rates →The most the IRS lets you put into an account in a year. Limits rise with inflation most years.
Seen onIRS notices each fall.
Savings & retirement →A flat fee for a covered service, such as $30 for a doctor visit. Copays count toward the out-of-pocket maximum.
Seen onYour insurance card, Summary of Benefits and Coverage.
Health insurance →The most you can owe on a card or credit line at once.
Seen onCard statements and account pages.
Credit & debt →The record the three bureaus (Equifax, Experian, TransUnion) keep of your accounts and payments. You can check all three free every week at AnnualCreditReport.com.
Seen onAnnualCreditReport.com; adverse-action letters after a denial.
Credit & debt →A three-digit summary (300 to 850 for FICO) of how likely you are to repay, built only from your credit reports.
Seen onLoan applications, card statements, free score services.
ExampleThe average FICO score was 714 in spring 2026.
Credit & debt →Card balances as a share of credit limits, overall and card by card. Lower is better for your score; under 10% is typical of the highest scores.
Seen onYour statement balance divided by your limit; credit monitoring apps.
Example$1,500 on a $5,000 limit is 30%.
Credit & debt →Extras sold in the finance office, such as service contracts, paint protection, GAP and etching. They are optional and negotiable, and financing them means paying interest on them.
Seen onThe menu presented in the finance office, the buyer's order.
Car loans →When a dealer arranges your loan, it can add to the rate the lender approved you for and keep part of the difference. A pre-approval from your bank or credit union shows you the real rate.
Seen onThe retail installment contract's APR versus the lender's 'buy rate', which you usually never see.
Car loans →Paying minimums everywhere and every extra dollar to the highest interest rate first. Mathematically the cheapest order.
Credit & debt →Paying minimums everywhere and every extra dollar to the smallest balance first. Costs a little more, but quick early wins help many people finish.
Seen onResearch by Gal and McShane (Kellogg) on 6,000 debt-settlement clients.
Credit & debt →What you pay for covered care each plan year before the plan starts sharing costs. Preventive care and many copays skip it.
Seen onSummary of Benefits and Coverage, page 1.
ExampleThe average single deductible for workers with one was $1,886 in 2025 (KFF).
Health insurance →A promotion ('no interest if paid in full in 12 months') where unpaid balances at the end are charged all the interest back to the purchase date. Not the same as a 0% APR.
Seen onStore cards and medical financing offers.
Credit & debt →The drop in an asset's value over time. New cars lose about 20% in the first year and roughly 60% within five years on average.
Seen onTrade-in quotes, Kelley Blue Book and Carfax value tools.
Car loans →Prepaid interest you pay at closing to get a lower rate. One point costs 1% of the loan amount; how much it lowers the rate varies by lender.
Seen onLoan Estimate page 2, section A ('% of Loan Amount (Points)').
Example1 point on $400,000 costs $4,000.
Mortgage →The part of the price you pay in cash at closing. The rest is the loan.
Seen onPurchase contracts, Loan Estimate page 2 ('Calculating Cash to Close').
Mortgage →A 10% extra tax on most retirement withdrawals before age 59 1/2, on top of income tax.
Seen onForm 1099-R, Form 5329.
ExampleCashing out $20,000 at 35 in the 22% bracket can cost about $6,400.
Savings & retirement →Total tax divided by income. Always lower than your top bracket because the lower brackets apply first.
Example$6,680 of tax on a $75,000 salary is an effective rate of 8.9%.
Taxes →In family coverage, each person also has their own smaller deductible and maximum, so one person's big claim starts coverage before the whole family total is met.
Seen onFamily plan summaries.
Health insurance →Money your employer adds to your 401(k) when you contribute, up to a formula. Not contributing enough to get all of it leaves pay on the table.
Seen onBenefits summary ('100% of the first 3%, 50% of the next 2%').
ExampleVanguard reported a record average match of 4.7% of pay in 2025.
Savings & retirement →An account your mortgage servicer holds to pay your property taxes and homeowners insurance, funded by part of each monthly payment.
Seen onLoan Estimate page 1 ('Estimated Escrow'), the yearly escrow analysis letter.
ExampleIf your county raises taxes $600 a year, your payment rises about $50 a month after the next escrow analysis, even on a fixed-rate loan.
Mortgage →Quarterly payments owed on income with no withholding, such as freelance or rental income.
Seen onForm 1040-ES; due in April, June, September and January.
Taxes →A fund's yearly cost as a percentage of what you hold in it, taken out quietly every day.
Seen onFund fact sheets, your 401(k) fee disclosure.
ExampleSEC example: $100,000 at 4% for 20 years ends near $208,000 at a 0.25% fee and $179,000 at 1%.
Savings & retirement →The insurer's statement of what a provider billed, what was allowed, what the plan paid and what you owe. It is not a bill, but check every bill against it.
Seen onYour insurer's app or mailbox after any claim.
Health insurance →The overnight rate banks charge each other, steered by the Federal Reserve's target range. It sets the floor for short-term borrowing costs across the economy.
Seen onFed statements after each of its eight yearly meetings; news headlines.
Interest rates →The FHA's version of mortgage insurance: 1.75% of the loan up front plus an annual premium (0.55% for most borrowers). With under 10% down it lasts for the life of the loan.
Seen onFHA Loan Estimates, HUD mortgagee letters.
Mortgage →Social Security (6.2%) and Medicare (1.45%) taxes on wages. Traditional 401(k) contributions do not reduce them.
Seen onPay stubs ('OASDI' or 'Social Security', 'Medicare').
Taxes →The most widely used credit score. Weights: payment history 35%, amounts owed 30%, length of history 15%, new credit 10%, credit mix 10%.
Seen onMortgage and auto lending decisions.
Credit & debt →Single, married filing jointly, married filing separately, head of household or qualifying surviving spouse. It sets your brackets and standard deduction.
Seen onThe top of Form 1040.
Taxes →An interest rate that never changes for the life of the loan, so principal and interest stay the same every month.
Seen onLoan Estimate page 1 ('Can this amount increase after closing? NO').
Interest rates →A pre-tax account for medical costs offered through an employer. Mostly use-it-or-lose-it: plans may let you carry over up to $680 into 2027 or give a short grace period.
Seen onOpen enrollment; the 2026 limit is $3,400.
Health insurance →Your employer's year-end summary of wages and the taxes withheld. Box 1 is wages after pre-tax deductions such as a traditional 401(k).
Seen onBy January 31 every year.
Taxes →The form that tells your employer how much federal tax to withhold. Update it after a marriage, a new job, a second job or a baby.
Seen onNew-hire paperwork, your payroll portal.
Taxes →Your plan's list of covered drugs, sorted into tiers that set your copay or coinsurance.
Seen onYour insurer's drug list search.
Health insurance →Covers the difference between what you owe and what the car is worth if it is totaled or stolen. Often far cheaper through your auto insurer than the dealer.
Seen onDealer finance office add-on menus, auto insurance quotes.
Car loans →The time between the statement and the due date when new purchases cost no interest, as long as you paid the previous statement in full.
Seen onCard agreements; statements must arrive at least 21 days before the due date.
Credit & debt →A credit check from an application. It can trim a few points for a year. Shopping for one mortgage or auto loan within a short window counts as a single inquiry.
Seen onThe inquiries section of your credit report.
Credit & debt →A tax-advantaged account for medical costs if you have an HDHP: contributions are pre-tax, growth is untaxed and withdrawals for care are tax-free. The money stays yours.
Seen onPayroll deductions, open enrollment.
Example2026 limits: $4,400 self-only, $8,750 family, plus $1,000 at 55 or older.
Health insurance →A plan with a deductible of at least $1,700 self-only ($3,400 family) in 2026 that lets you open an HSA.
Seen onOpen enrollment plan names ('HSA-eligible').
Health insurance →An FDIC-insured savings account, often online, paying near short-term market rates instead of the national average.
Seen onBank comparison pages; check the APY and that the bank is FDIC insured.
Interest rates →Monthly or yearly fees owed to a homeowners association. They are not paid through escrow, so they are easy to forget when budgeting.
Seen onListing details, HOA disclosure packets.
Mortgage →A fund that holds every stock or bond in a market index instead of picking winners, which keeps its costs low.
Seen on401(k) fund menus ('S&P 500 Index').
Savings & retirement →A retirement account you open yourself at a bank or brokerage. 2026 limit: $7,500, plus $1,100 at 50 or older.
Seen onBrokerage account types, Form 5498.
Savings & retirement →The general rise in prices over time, which shrinks what each dollar buys.
Seen onThe monthly CPI report from the Bureau of Labor Statistics.
ExampleAt 3% inflation, $1,000 of groceries costs about $1,344 in ten years.
Interest rates →Doctors, hospitals and pharmacies that have contracts with your plan. Using them is what keeps your costs inside the deductible and out-of-pocket rules.
Seen onYour insurer's provider directory.
Health insurance →The price of borrowing money, charged as a percentage of what you still owe.
Seen onEvery loan statement; the 'Interest Rate' line on page 1 of a Loan Estimate.
Interest rates →Specific expenses (mortgage interest, state and local taxes, charity, large medical bills) you can deduct instead of the standard deduction, if they add up to more.
Seen onSchedule A (Form 1040).
Taxes →A mortgage above the conforming limit. Lenders keep or sell it privately, often with stricter credit and cash requirements.
Seen onRate sheets for higher-priced homes.
Mortgage →Money a lender puts toward your closing costs in exchange for a higher interest rate. The opposite of buying points.
Seen onLoan Estimate page 2, section J ('Lender Credits').
Mortgage →A standard three-page form every mortgage lender must give you within three business days of applying, so offers can be compared line by line.
Seen onYour inbox after a mortgage application.
Mortgage →How many months you have to repay a loan. Longer terms shrink the payment but raise total interest and keep you underwater longer.
Seen onRetail installment contracts, Loan Estimates.
ExampleExperian: the average new-car loan ran 69.5 months in Q2 2026.
Car loans →The loan balance divided by the home's value. Lower is safer for the lender and usually means a better rate.
Seen onLender pricing sheets, PMI cancellation letters.
Example$360,000 owed on a $400,000 home is 90% LTV.
Mortgage →The rate on your next dollar of taxable income. Only the income inside that bracket is taxed at it.
ExampleA single filer with $54,400 of taxable income in 2026 is in the 22% bracket but pays 22% only on the top $4,000.
Taxes →The least you can pay to stay current. On a high-rate card it mostly covers interest, which is why statements must show how long paying only the minimum would take.
Seen onThe 'Minimum Payment Warning' box on every card statement.
Credit & debt →AGI with a few items added back. Each rule defines it slightly differently; for most wage earners it equals AGI.
Seen onRoth IRA limits, Schedule 1-A phase-outs.
Taxes →Manufacturer's suggested retail price, printed on the window sticker. Dealers can sell above or below it.
Seen onThe Monroney label on a new car's window.
Car loans →Owing more on a loan than the thing is worth. On a car trade-in, the gap is usually added to the new loan.
Seen onTrade-in appraisal; payoff quote from your lender.
ExampleEdmunds found 29.6% of trade-ins underwater in Q2 2026, by $6,884 on average.
Car loans →Federal law (since 2022) that limits surprise bills for emergency care and for out-of-network clinicians at in-network hospitals. You owe only your in-network share.
Seen onRequired notices at hospitals and on bills.
Health insurance →Providers without a contract with your plan. Costs can be much higher, may not count toward your maximum, and some plans pay nothing.
Seen onExplanation of Benefits, surprise bills.
Health insurance →The most you pay for in-network covered care in a plan year. After that the plan pays 100%. Premiums and out-of-network bills do not count.
Seen onSummary of Benefits and Coverage, page 1.
ExampleThe legal ceiling is $10,600 self-only for 2026 plans and $12,000 for 2027.
Health insurance →The total you pay for a car including sales tax, title, registration, dealer fees and any add-ons. The only price worth negotiating.
Seen onDealer buyer's orders; ask for it in writing before discussing payments.
Car loans →Principal, interest, taxes and insurance: the four parts of a typical monthly mortgage payment. Lenders judge affordability on all four, plus mortgage insurance and HOA dues.
Seen onPre-approval letters, lender affordability worksheets.
Mortgage →The 12 months your deductible and maximum count over, often January to December. Both reset at the start of the next plan year.
Seen onPlan documents; timing big procedures around it matters.
Health insurance →A lender's conditional statement of how much it would lend you after checking credit and income. It is a ceiling, not a budget.
Seen onPre-approval letters you show sellers.
Mortgage →What you pay every month to have the insurance, whether or not you use it. Premiums never count toward the deductible or out-of-pocket maximum.
Seen onOpen enrollment plan comparisons, paycheck deductions.
Health insurance →Interest for the days between closing and the end of that month, collected at closing because mortgage interest is paid in arrears.
Seen onLoan Estimate page 2, section F ('Prepaids').
ExampleOn the CFPB's sample loan: $17.44 a day for 16 days, $279.04.
Mortgage →A fee for paying a loan off early. Uncommon on today's home loans, but always check.
Seen onLoan Estimate page 1, 'Loan Terms'.
Mortgage →Checkups, screenings and vaccines that most plans must cover with no cost to you in network. A visit that turns into treating a problem can be billed differently.
Seen onSummary of Benefits and Coverage; HealthCare.gov's preventive list.
Health insurance →The base rate banks use for many consumer loans. By convention it sits 3 points above the top of the Fed's target range, so it moves the same day the Fed moves.
Seen onCredit card agreements ('Prime + 18.24%'), HELOC statements.
Interest rates →The amount you borrowed and still owe, not counting interest.
Seen onMonthly mortgage statements, 'Principal' column of an amortization schedule.
Mortgage →Approval your insurer requires before some tests, drugs or procedures. Without it the claim can be denied.
Seen onDenial letters, your doctor's office.
Health insurance →Insurance that protects the lender, not you, when you put less than 20% down on a conventional loan. You pay it until enough of the loan is repaid.
Seen onLoan Estimate page 1 ('Mortgage Insurance'), monthly statements.
ExampleAt 0.5% a year on a $369,630 loan, PMI is about $154 a month.
Mortgage →A below-market loan rate subsidized by the carmaker, such as 0% for 60 months. It usually requires top-tier credit and may replace a rebate.
Seen onDealer and manufacturer financing offers.
Car loans →A lender's promise to hold your interest rate and points for a set period while the loan is processed, often 30 to 60 days.
Seen onLoan Estimate page 1 ('Rate Lock'), lock confirmation letters.
Mortgage →What money earns after inflation. Roughly the stated rate minus inflation.
Seen onRetirement projections ('in today's dollars').
ExampleSavings paying 0.37% while prices rise 3.3% lose about 3% of buying power a year.
Savings & retirement →After a large extra principal payment, the lender recalculates your payment over the remaining term, usually for a small fee. The rate and payoff date stay the same.
Seen onServicer FAQ pages; ask your servicer if it offers recasting.
Mortgage →Replacing your loan with a new one, usually to get a lower rate, change the term or take cash out. It comes with new closing costs.
Seen onLender offers when rates fall; your servicer's payoff statement.
Mortgage →A credit that can be paid to you even if it is more than the tax you owe.
Seen onEarned Income Credit; up to $1,700 of the 2026 Child Tax Credit.
Taxes →The minimum you must withdraw each year from traditional retirement accounts starting at age 73 (75 if born in 1960 or later).
Seen onCustodian notices once you approach the starting age.
Savings & retirement →Moving retirement money from an old employer's plan into a new plan or an IRA without paying tax, done as a direct transfer.
Seen onJob-change paperwork, Form 1099-R code G.
Savings & retirement →Retirement money contributed after tax that comes out tax-free in retirement, including all its growth, if the rules are met.
Seen on401(k) enrollment choices, Roth IRA accounts.
Savings & retirement →A shortcut: 72 divided by the annual rate is roughly how many years it takes money to double.
ExampleAt 8%, about 9 years. At 22% card interest, a balance doubles in about 3.3 years.
Interest rates →The share of a retirement portfolio you can spend in year one, then raise with inflation, with a high chance of lasting 30 years. Morningstar's 2025 estimate was 3.9%.
Seen onRetirement income research; the '4% rule' is the old version.
Savings & retirement →A tax credit of up to 50% of retirement contributions for lower incomes. For 2026 it ends at $40,250 of AGI single, $80,500 joint.
Seen onForm 8880.
Savings & retirement →The IRS form for the deductions added for 2025 to 2028: qualified tips, overtime premium pay, car loan interest and the extra deduction for people 65 and older. Each phases out at higher incomes.
Seen onAttached to Form 1040; feeds line 13b.
Taxes →Both halves of Social Security and Medicare (15.3%) on 92.35% of net self-employment earnings, on top of income tax.
Seen onSchedule SE.
Taxes →Interest figured only on the original amount, never on interest already earned.
Seen onSome auto loans are 'simple interest' loans: interest accrues daily on the balance.
Interest rates →The most wages Social Security tax applies to in a year: $184,500 in 2026. Medicare has no cap.
Seen onSSA's yearly announcement each October.
Taxes →A credit check that does not affect your score, such as checking your own credit or a prequalification offer.
Seen onPrequalification tools, your own credit checks.
Credit & debt →The gap between two rates, for example the 30-year mortgage rate minus the 10-year Treasury yield.
Seen onMarket commentary, lender pricing.
Interest rates →A flat amount subtracted from income if you do not itemize. For 2026: $16,100 single, $32,200 married filing jointly, $24,150 head of household.
Seen onForm 1040, line 12e on the 2025 form.
Taxes →What you owed when the billing cycle closed. It is usually the balance reported to the bureaus, and paying it in full avoids interest.
Seen onThe top of every card statement.
Credit & debt →The last day of a billing cycle. The balance on this date is what most issuers report, so paying before it lowers your reported utilization.
Seen onCard statements ('Closing date').
Credit & debt →A single fund that shifts from stocks toward bonds as its target retirement year approaches. A common 401(k) default.
Seen on401(k) fund menus ('Target Retirement 2060').
Savings & retirement →A band of taxable income taxed at one rate. Income fills the 10% band first, then 12%, then 22%, and so on.
Seen onIRS tax tables; the inflation-adjustment revenue procedure each fall.
Taxes →A dollar-for-dollar cut in the tax itself. Worth far more than a deduction of the same size.
ExampleA $1,000 credit saves $1,000; a $1,000 deduction saves $220 in the 22% bracket.
Taxes →Money returned because you paid in more than you owed during the year. Not a bonus: it is your own pay, returned without interest.
Seen onYour return; the IRS reported a $3,276 average refund through May 8, 2026.
Taxes →Income after subtracting deductions. Brackets apply to this number, not to your salary.
Seen onForm 1040, line 15 (taxable income).
Taxes →All the interest you will pay over the full loan term, as a percentage of the amount borrowed.
Seen onLoan Estimate page 3, Closing Disclosure page 5.
ExampleThe CFPB's sample 30-year loan at 3.875% has a TIP of 69.46%.
Mortgage →Your current car, used as part of the payment for the next one. In most states it also lowers the sales tax on the new car.
Seen onDealer buyer's order ('Trade allowance', 'Payoff').
Car loans →Retirement money contributed before income tax and taxed when you withdraw it.
Seen on401(k) enrollment choices, IRA forms.
Savings & retirement →Short-term U.S. government debt (4 weeks to 1 year), bought at a discount. Its yield tracks the Fed's rate closely.
Seen onTreasuryDirect, brokerage accounts.
Interest rates →The return investors demand to lend to the U.S. government. The 10-year yield is the benchmark that 30-year mortgage rates follow.
Seen onMarket news, the daily H.15 release.
Interest rates →A rate tied to an index such as prime, so it changes when that index changes. Most credit cards and home equity lines are variable.
Seen onCard agreements ('variable APR'), HELOC disclosures.
Interest rates →Often called an extended warranty: a separately priced repair plan. Optional, negotiable and cancellable for a partial refund in most states.
Seen onFinance office add-on menus.
Car loans →How long you must work before employer contributions are fully yours. Your own contributions are always 100% vested.
Seen onPlan summary description, 401(k) account page ('vested balance').
Savings & retirement →Tax your employer takes from each paycheck and sends to the IRS in your name. Your refund or bill is just the gap between withholding and your actual tax.
Seen onPay stubs ('Federal income tax'), W-2 box 2.
Taxes →No card matches that. Try a shorter word, or .
