Personal Finance. Taxes. File and Dependents 1

This tax is used to provide medical benefits for certain individuals when they reach age 65. 

• Medicare
• Social Security
• Payroll
• Medicaid

This tax provides benefits for retired workers and their dependents as well as for the disabled and their dependents. Also known as the Federal Insurance Contributions Act (FICA) tax.

• Medicare
• Social Security
• Payroll
• Medicaid

A person, other than the taxpayer or spouse, who entitles the taxpayer to claim an exemption.

• dependent
• child
• employer
• student

The amount that taxpayers can claim for themselves, their spouses, and eligible dependents; reduces the income subject to tax.

• exemption
• filing status
• interest
• tax

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What are three ways you have benefited from taxes today?

• Zoo's, Arena's, and Walmart
• Highway Signs, Highways, and bike reflectors
• Police Officers, Teachers, and the Internet
• Schools, Libraries, and Clean Communities

What is Income Tax?

• Tax on Earned Income
• Tax on Unearned Income
• Tax on Earned and Unearned Income
• Taxes on the Wages you earn from your Employer

The annual wage and tax report from your employer 

• W-4
• Form 1040 EZ
• W-2
• Form 1040

Money that an employer takes from your paycheck to be used for taxes is called

• interest income
• withholding
• dividend income
• unearned income

The deadline to file your annual tax return

• March 15
• April 30
• April 15
• March 30

The form that helps the employer determine how much to deduct for federal income tax

• W-2
• W-4
• Form 1040 EZ
• Form 1040