Taxes Test Review

The total amount of money a worker takes home in a pay period is called...

• Gross Pay

• Net Pay

• Adjusted Gross Income

• Capital Gain

What type of tax funds schools and the local government?

• Sales Tax

• Real-Estate Tax

• Payroll Tax

• Income Tax

Federal income taxes, state income taxes, and Social Security witholdings are all

• Payroll taxes

• Real Estate Taxes

• Sales Taxes

• Capital Taxes

What part of the government enforces tax laws and collects taxes?

• U.S. Congress

• Bureau of Labors

• U.S. Tax Department

• Internal Revenue Service

A 1040 or 1040EZ...

• Pay local taxes

• pay sales tax

• file a tax return

• receive an estimated tax payment

What day are your taxes due (assuming no federal holidays or weekends occur on that date)?

• January 1st

• March 15th

• June 1st

• April 15th

Tax paid as part of the purchase of an item

• Sales Tax

• Net Pay

• Gross Pay

• Tax Return

• Payroll Tax

The total amount of money you take home on your paycheck from work

• Sales Tax

• Net Pay

• Gross Pay

• Tax Return

• Payroll Tax

Money witheld from your paycheck

• Sales Tax

• Net Pay

• Gross Pay

• Tax Return

• Payroll Tax

The total amount of money you earn in a paycheck before taxes

• Sales Tax

• Net Pay

• Gross Pay

• Tax Return

• Payroll Tax