Taxation Flashcard Review

Taxation Flashcard Review

Assessment

Flashcard

Other

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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33 questions

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1.

FLASHCARD QUESTION

Front

The amount withheld by an employer from an employee's earnings. Typically includes income taxes, FICA taxes, Group Insurance, Pension Contributions, etc.

Back

Payroll Deductions

2.

FLASHCARD QUESTION

Front

Also called "sin taxes," taxes paid on the purchase of goods to encourage or discourage societal behaviors.

Back

Excise Tax

3.

FLASHCARD QUESTION

Front

A tax in which the tax rate increases as the taxable amount increases.

Back

Progressive Tax

4.

FLASHCARD QUESTION

Front

A tax in which the tax rate decreases as the amount subject to taxation increases.

Back

Regressive Tax

5.

FLASHCARD QUESTION

Front

An income tax in which the tax rate is fixed, with no change as the taxable amount increases or decreases.

Back

Proportional Tax

6.

FLASHCARD QUESTION

Front

While we submit our tax filings to the IRS, where do our federal tax dollars actually go? (What department runs the IRS?)

Back

Treasury Department

7.

FLASHCARD QUESTION

Front

Our tax money is spent on all of the following EXCEPT: social security, national parks, private education, the military

Back

private education

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