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

You will NOT have income taxes withheld from your paycheck.

You are paying all income taxes upfront at the START of the year.

You are requesting an extension to file your taxes

You are paying all income taxes at the END of the calendar year.

Which of the following things is TRUE about the W-2 form EXCEPT...

You get 1 W-2 form every year, even if you had multiple jobs

It contains information you'll need to fill out a 1040

It lets you know how much you earned last year

It lets you know how much was withheld from your paychecks

Jason is 15 and earned $1450 at his job last summer. Should he file a tax return?

Yes, because he may get a refund.

No, because he didn't earn enough.

No, because you have to be 16 and older to file taxes.

Yes. You must file taxes even if you didn't earn enough.

Which of the following is NOT a way you can file your taxes?

Through your employer's HR department

Mailing in a paper tax return to the Federal government

Using tax software like TurboTax

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

Yes, as long as the teen meets the dependency requirements

Yes. All teens are dependents until they are 18 years old

No. If a teen files a tax return, he/she cannot be claimed

Yes, but the parent has to add the teen's income to theirs

Luisa earned $1,200 at her part-time job, and $500 from babysitting in cash. Which is TRUE?

She will report her total income as $1,700.

She will report her total income as $1,200.

She will report her total income as $500.

Luisa is required to file a tax return.

If you owe taxes, which of the following is FALSE?

You can make a payment with a debit, but not credit card

You can make a payment using cash

You can delay your payment deadline

With an agreement, you can pay it in installments

Which is TRUE if you do not pay your taxes?

Your credit score may be impacted

You owe twice as much the following year

You're more likely to be approved for low interest loans

You cannot go to jail (but you will be heavily fined)

Taxes

Quiz

•

Life Skills

•

9th - 12th Grade

•

Practice Problem

•

Medium

•

CCSS

6.RP.A.3B, 6.NS.B.3, 7.RP.A.3

+6

Standards-aligned

Next Gen Personal Finance undefined

Used 18K+ times

FREE Resource

About this resource

This quiz covers personal income taxation, focusing on fundamental tax concepts that high school students encounter when they enter the workforce. The content is appropriate for grades 9-12 and addresses essential knowledge about how the tax system works, including government spending, types of taxes, and the practical mechanics of filing tax returns. Students need to understand key tax forms like the W-4 and W-2, distinguish between different types of income, grasp the concept of tax withholding versus final tax liability, and comprehend dependency rules that affect young workers. The questions require knowledge of specific tax deadlines, filing requirements based on income thresholds, and the consequences of tax compliance or non-compliance. Students must also differentiate between earned and unearned income, understand when teens are required to file returns, and recognize legitimate methods for tax preparation and payment. Created by Next Gen Personal Finance, a Life Skills teacher in the US who teaches grades 9-12. This quiz serves as an excellent tool for introducing students to real-world tax responsibilities they will face as working teenagers and young adults. Teachers can use this assessment as a formative evaluation after completing a unit on personal taxation, or as a review activity before students begin working part-time jobs. The quiz works effectively as a homework assignment to reinforce classroom discussions about financial literacy and civic responsibility. It can also function as a warm-up activity to gauge prior knowledge before diving deeper into tax preparation activities. The content aligns with personal financial literacy standards that emphasize understanding taxation, government spending, and individual financial responsibilities within the broader economic system.

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who primarily uses our tax money?

Your employer

Large corporations

Federal and state government

Local Businesses

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Our tax money is spent on all of the following EXCEPT:

Social Security

The Military

Private School Education

National Parks

Which of the following is NOT a category in the Federal government's spending?

Mandatory spending

Discretionary spending

Interest on loans issued

Interest on national debt

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following taxes is applied to wages, salaries, dividends, and interest earned?

Corporate Income Tax

Income Tax

Estate Tax

Excise Tax

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The W-4 form lets...

the government know how much you paid in taxes last year

your employer know how much to withhold from your paycheck

the 3 major credit bureaus know how many dependents you have

you know how much you paid in taxes last year

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?

Yes

No

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What item would you DEFINITELY see on a paystub?

Retirement

Healthcare

Gross Pay

Your occupation/role

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Taxes

20 questions

Who primarily uses our tax money?

Our tax money is spent on all of the following EXCEPT:

Which of the following is NOT a category in the Federal government's spending?

Which of the following taxes is applied to wages, salaries, dividends, and interest earned?

The W-4 form lets...

Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?

What item would you DEFINITELY see on a paystub?

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

Jason filed his tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?

True or False: All wages, tips, and bonuses are taxable unless specifically excluded.

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