Meaning & Definition of word "Tax"
to
Tax
/tæks/
noun:
- 1. A compulsory financial charge or levy imposed by a government on individuals or entities, used to fund government spending and public services.
- Example: The government increased the income tax rate for high earners.
- 2. A burden or obligation; a duty.
- Example: She felt the tax of working long hours was affecting her health.
verb:
- 1. To impose a financial charge on someone.
- Example: The government decided to tax the sale of sugary drinks to combat obesity.
- 2. To burden or strain someone or something.
- Example: The lengthy project began to tax the team's resources.
Etymology
Middle English, from Latin 'taxare' meaning 'to estimate, assess'.
Common Phrases and Expressions
tax return:
A form submitted yearly to the IRS containing all income earned and taxes owed.
property tax:
A tax based on the value of owned property, including land and buildings.
sales tax:
A tax imposed on sales of goods and services.
income tax:
A tax levied directly on personal income.
Related Words
taxation:
The process of imposing taxes.
taxpayer:
A person or entity that pays tax.
taxable:
Subject to tax.
Slang Meanings of tax
Meaning: Tax man
Example Sentence: I heard the tax man is coming to check our books.
Meaning: Get taxed
Example Sentence: You really got taxed with that whole expense!