income taxes help


Federal taxes and Federal Income taxes?

Are federal taxes and federal income taxes different? If so what is the difference?

Public Comments

  1. Income taxes refer to taxes collected on the 1040. There are also payroll taxes (fica/mc), excise taxes (gas, phone), estate and gift taxes....
  2. As far as April 15 is concerned they are the same. There are many other federal taxes, but these are usually hidden in the cost of things you pay for, like products and utilities.
  3. In most conversations, "Federal Taxes" and "Federal Income Taxes" refer to the same thing: a percentage of your taxable income paid to Uncle Sam and reported on an income tax return. However, as other users have mentioned, there are many other types of "federal taxes." There are trust and estate taxes, excise taxes, self-employment taxes, Social Security and Medicare "taxes," etc.
  4. Federal taxes are all federal taxes: Income, estate, gift, employment, excise. Income tax is one of the federal taxes.
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