Taxpayer Education and Awareness

Glossary of Terms

Continuing Education – informative courses taken by professionals by professionals that are necessary to maintain a valid license.

Professional Organization – any group that provides informative resources and education to professionals about their industry.

Direct Deposit – a method of depositing currency into a bank or checking account without physically signing and cashing a check.

E-File – a method of filing an income tax return via the Internet where the information on the tax return is provided electronically.

W-2 Form – the paper document you receive from your employer that indicates the amount of wages you were paid during the past year and the amount of taxes deducted from your paycheck.

Typeface – text that has been produced by a computer or typewriter, as opposed to being written by hand.

Individual Taxpayer Identification Number – a 9-digit number issued by the IRS to individuals who do not have, and are not eligible to obtain a Social Security Number.  The number is issued regardless of immigration status.

Information courtesy: Michigan Association of CPAs