- Types:
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bracket creep
a movement into a higher tax bracket as taxable income increases
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estimated tax
income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability
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FICA
a tax on employees and employers that is used to fund the Social Security system
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withholding, withholding tax
income tax withheld from employees' wages and paid directly to the government by the employer
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supertax, surtax
an additional tax on certain kinds of income that has already been taxed
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PAYE, pay as you earn
the British system of withholding tax
