Income Tax Quiz

For which of the following would an employer withhold money from an employee's pay?

• Federal income tax
• Social Security tax
• Medicare Tax
• All of the above

Tags

CCSS.6.RP.A.3B

Fred earns $10 an hour as a library assistant. If we worked 40 hours last week, his paycheck would be

• Equal to $400
• Less than $400
• More than $400
• Found in the tax table

Tags

CCSS.7.EE.B.3

Which of the following does not influence the amount of your federal tax withholding?

• The amount you earn
• Your health insurance benefits
• Your marital status
• Your number of withholding allowances

Tags

CCSS.7.RP.A.3

Which of the following would not be an employee benefit?

• Health insurance
• Paid time off
• Retirement plan
• Annual salary

A W-4 form is used to

• Apply for minimum wage salary
• Claim withholding allowances
• File federal income tax
• Calculate Social Security tax

Because federal income tax is a(n)_____, Phil paid federal tax at a higher rate when his wages increased.

• Regressive Tax
• Progressive Tax
• Proportional Tax
• Earnings Tax

Tags

CCSS.RI.2.3

CCSS.RI.4.3

CCSS.RI.11-12.3

CCSS.RI.4.5

CCSS.RI.7.5

Taxes for Social Security and Medicare are a part of ____?

• FDIC
• SIPC
• IRS
• FICA

Tyler noticed that money was withheld from his pay for taxes and some benefits. These withholding are also called ________?

• Expenses
• Withholdings
• Deductions
• Reductions

Social Security tax is a progressive tax?

• True
• False

Individuals are required to file a report of their income and the taxes that are owed to the federal government in a(n)

• Tax table
• W-2 form
• Federal tax return
• W-4 form