Taxation WISE practice

Front

Which of the following taxes is applied to wages, salaries, dividends, and interest earned? Corporate Income Tax, Income Tax, Estate Tax, Excise Tax

Back

Income Tax

Front

The W-4 form lets...

Back

your employer know how much to withhold from your paycheck

Front

By claiming "exempt" on the W-4 form...

Back

You will NOT have income taxes withheld from your paycheck.

Front

What do you need to file your 1040 form?

Back

Your W-2

Front

Which of the following is NOT a way you can file your taxes?
Options:
Through a tax professional
Mailing in a paper tax return to the Federal government
Using tax software like TurboTax
Through your employer's HR department

Back

Through your employer's HR department

Front

If a teen files a tax return, can the parent still claim him/her as a dependent?

Back

Yes, as long as the teen meets the dependency requirements.

Front

When is tax day?

Back

April 15th

Front

The government agency in charge of collecting tax.

Back

IRS

Front

Local Governments earn the majority of their money from...

Back

Property tax

Front

the Federal Government earns most of its money from...

Back

Individual Income Tax