E
Earned income
Includes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.
Source: Understanding Taxes - Glossary - irs.gov
Earned Income Credit
A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.
Source: Understanding Taxes - Glossary - irs.gov
Electronic filing (e-file)
The transmission of tax information directly to the IRS using telephones or computers.
Source: Understanding Taxes - Glossary - irs.gov
Electronic preparation
Electronic preparation means that tax preparation software and computers are used to complete tax returns. Electronic tax preparation helps to reduce errors.
Source: Understanding Taxes - Glossary - irs.gov
Electronic Return Originator (ERO)
The Authorized IRS e-file Provider that originates the electronic submission of an income tax return to the IRS.
Source: Understanding Taxes - Glossary - irs.gov
Excise tax
A tax on the sale or use of specific products or transactions.
Source: Understanding Taxes - Glossary - irs.gov
Exempt (from withholding)
Free from withholding of federal income tax. A person must meet certain income, tax liability, and dependency criteria.
Source: Understanding Taxes - Glossary - irs.gov
Exemptions
Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax.
Source: Understanding Taxes - Glossary - irs.gov
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