Income Tax

Pronunciation: /ˈɪnkʌm tæks/

Definitions of income tax

noun a tax levied on income, especially on personal income

Example Sentences

A1 I have to pay income tax every year.

A2 My employer deducts income tax from my salary.

B1 Filing income tax returns can be confusing for some people.

B2 It is important to accurately report all sources of income for income tax purposes.

C1 High-income earners may be subject to a higher rate of income tax.

C2 Tax planning strategies can help minimize the amount of income tax owed.

Examples of income tax in a Sentence

formal Individuals are required to report their income tax to the government annually.

informal Don't forget to file your income tax before the deadline!

slang I hate paying my income tax, it's such a drag.

figurative Paying income tax is like giving a portion of your hard-earned money to the government.

Grammatical Forms of income tax

• plural: income taxes
• comparative: more income tax
• superlative: most income tax
• present tense: taxes income
• future tense: will tax income
• perfect tense: has taxed income
• continuous tense: is taxing income
• singular: income tax
• positive degree: income tax
• infinitive: to tax income
• gerund: taxing income
• participle: taxed income

Origin and Evolution of income tax

First Known Use: 0015 year

Language of Origin: Latin

Story behind the word: The concept of taxing income dates back to ancient civilizations such as Egypt, Greece, and Rome, where individuals were required to pay a portion of their earnings to the government.

Evolution of the word: The term 'income tax' evolved from the Latin phrase 'impositio redditionis' which meant 'imposition of a return'. Over time, it came to refer specifically to the tax levied on individuals' earnings.