Hi, I'm Patti, and I work for the IRS.
This is the second in a series of three short videos. They are designed to help you – an American Sign Language (ASL) interpreter - clarify tax terms for deaf and hard of hearing taxpayers visiting our tax preparation sites.
So, let's continue our look into some of the most commonly used terms.
"Deduct," as in "deduct from your taxes." That word you'll use frequently while interpreting tax issues.
A clear way to interpret "deduct" is to "subtract from income or tax owed."
There are several expenses and credits that may lower what is owed to the IRS. Qualifying amounts can be subtracted- or deducted- from federal taxes.
In some cases, these deductions may result in a refund.
The next term is "refund." This is overpaid federal taxes.
If a taxpayer has already paid more than the actual amount due, the IRS will repay them the difference or "refund" them the overage.
An effective way to interpret "refund" is to "get money back from the government if you paid more than required." That gets the concept across to the deaf or hard of hearing taxpayer better than fingerspelling "refund."
Our last term applies when receiving money back from the IRS. "Direct deposit" delivers a refund to the taxpayer the quickest way possible. Instead of mailing a check, it's sent directly to the taxpayer's bank account.
To view the other tax topics videos in ASL, please visit youtube/irsvideosasl. And for more information, visit IRS.gov