NCVPS FM Unit 3 Taxes Review

The Federal Government does not require its citizens to pay taxes on the money they earn.

• True

• False

You must file your income taxes by what date?

• April 15th

• December 31st

• January 1st

What is the name of the agency that collects federal taxes?

• North Carolina Revenue Service (NCRS)

• Social Security Administration (SSA)

• Internal Revenue Service (IRS)

Which of these is unearned income?

• A pay check from the grocery store

• Birthday money from a friend

• A pay check from the bookstore

Which of these is funded by the the taxes in your community?

• Places of worship

• Public parks

• Fast food restaurants

What is the name of the form you are required to complete on your first day at work?

• W - 2 Form

• W - 4 form

• Social Security Application

What is the name of the form that reports your yearly income and paid taxes?

• Social Security card

• W - 4 form

• W - 2 form

According to this W - 2 form, how much did Magnum pay in Federal Tax?

• $ 32.896.45

• $ 8453.78

• $ 1, 895.46

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

According to this W - 2 form, how much did Magnum Thomas earn this year?

• $ 32, 896.45

• $ 1,126.45

• $1, 895.46

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

According to this W- 2 form, how much did Magnum Thomas pay in FICA or Social Security tax?

• $ 1, 895.46

• $ 8, 453.78

• $ 2, 775.63

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.3