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The standard deduction is a portion of income that is not subject to tax and can be used to reduce a tax bill instead of itemizing deductions.| Investopedia
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Form 1040 is the standard U.S. individual tax return form that taxpayers use to file their annual income tax returns with the IRS.| Investopedia
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Avoid writing a check to the IRS every April by changing your W-4 form to have the correct amount of income tax withheld from your pay. Learn how this works.| Investopedia
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Income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction.| Investopedia