Personal Income Tax


Personal Income Tax (PIT) is also known as individual income tax and is a tax on earnings by employees. The IRS defines earned income as money earned as a farm or business owner or as an employee.

This includes wages, salaries, tips, union strike benefits, disability retirement benefits received prior to retirement age, and net earnings from self-employment. The most common tax forms used for PIC include Form W-2 and Form 1095-C.


Part of speech:
Use in a sentence:
He earns personal income tax
Personal Income Tax