A flat tax is a tax that is levied at the same rate on all taxpayers, regardless of their income level. Progressive tax, proportional tax, and regressive tax are all types of income tax.

In a progressive tax system, the tax rate increases as taxable income increases. This means that higher-income taxpayers pay a higher percentage of their income in taxes than lower-income taxpayers.

Mortgage interest, state and local income taxes, and charitable contributions are all deductible expenses for federal income tax purposes.

The standard deduction for a single taxpayer in 2023 is $13,850.

The standard deduction is not a type of tax credit. It is a deduction that reduces the amount of taxable income.

The maximum amount of the earned income tax credit for a taxpayer with three qualifying children in 2023 is $7,430.

A health savings account (HSA) is not a type of retirement account. It is a tax-advantaged savings account that can be used to pay for qualified medical expenses.

The maximum amount that can be contributed to a traditional IRA in 2023 is $6,500.

Rental income is not a type of investment income. It is a type of business income.

The long-term capital gains tax rate for taxpayers in the highest tax bracket in 2023 is 20%.

A Social Security card is not a type of tax form. It is a document that is used to identify a person for Social Security purposes.

The due date for filing federal income tax returns for most taxpayers is April 15.

A telephone audit is not a type of tax audit. It is a type of tax inquiry.

The penalty for filing a late tax return is 5% of the tax owed, plus 1% for each month the return is late.

A tax refund is not a type of tax relief. It is a payment from the government to a taxpayer who has overpaid their taxes.