Our Tax System (FL2)

Front

Federal income tax is an example of what type of tax?

Back

progressive

Front

Property tax is an example of what type of tax?

Back

proportional

Front

Sales tax is an example of what type of tax?

Back

regressive

Front

Which will decrease the amount you owe in taxes by more? $1000 tax credit, $1000 tax deduction, They decrease your taxes equally.

Back

$1000 tax credit

Front

Willful failure to pay taxes is called

Back

tax evasion.

Front

People can go to prison for breaking tax laws.

Back

True

Front

Who might be claimed as dependent on your taxes? Your 6 year old child. Your 20 year old child who is in college. Your 75 year old mother.

Back

All of these people might be your dependents.

Front

Which type of income is taxable? Options: money received as a birthday gift, life insurance benefits, money received as an inheritance, interest received on a savings bond

Back

interest received on a savings bond

Front

Which type of income is not taxable? tips, dividend income, child support, unemployment compensation

Back

child support

Front

If income, deductions, and all other relevant information is exactly the same other than filing status, who will pay the most in taxes?

Back

single person