Federal Income Taxes

Which of the following is NOT taxable income on your tax return?

• Wages
• Tips earned as wait staff
• Interest earned on savings/ bonds
• Alimony you paid

The federal income tax due on Roger's 1040EZ is LESS than the federal income tax withheld (from his gross pay). Roger...

• owes money to the IRS

• should increase his payroll allowances

• will get a refund

• should increase his salary

The deadline to file your tax return.

• January 31

• January 1

• December 31

• April 15

This form states the amount of money a person earned and the amount of taxes paid throughout the previous year. It is used to complete income tax forms for the IRS.

• W2

• W4

• I9

• 1040EZ

How often do you need to file your taxes?

• Once a month
• Once a year
• Every paycheck
• quarterly

The government agency in charge of collecting tax.

• FICA
• IRS
• NBA
• SEC

Which of the following is an example of a federal tax return?

• Form 1040EZ
• W-2
• W-4
• Form 10-K

What can happen if you don't file/pay taxes?

• You can get fined
• You can own back taxes
• You can go to prison
• All of the above

1040EZ is the hardest tax form to complete.

• False
• True

Generally, a person cannot claim him or herself as an exemption if he or she is claimed as a dependent on another's tax return.

• True
• False