Q:

What is federal income tax

Answer

Federal income tax is the percentage of your income that you pay to the federal government as required by the IRS. ChaCha again!

Categorized In: U.S. Government , Finance & Economy

Source: Internal Revenue Service | www.irs.gov

4 days ago, 04:10pm

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More ChaCha Answers (1)

Federal government charges a tax on personal income. It pays for defense, foreign affairs, law enforcement, and national debt.

Jun 01 2009, 09:45pm | Source: Federal income tax - Definition from Investor Dictionary - Define meaning of the word Federal income tax | www.investordictionary.com