3.2 Tax Returns Quiz

A tax return is...

• Money you get back for working really hard

• The Internal Revenue Service (IRS)

• a report containing information used to calculate taxes owed by the taxpayer

• a report that you give your boss when you start working

Not filing a tax return is a crime.

• True

• False

_________________ is the primary source of revenue for the federal government.

• Individual income tax

• food stamps

• sales tax

• airlines

What does voluntary mean?

• Done, given, or acting by force. You do not have a choice.

• Done, given, or acting of one's own free will. By choice.

Individuals must file a tax return when...

• their income reaches a level set by the IRS

• it will happen automatically

• they feel like it

• On Christmas eve

Filing status is a category that determines which tax form to use and the tax liability. It is based on your...

• job

• unemployment

• marital status

• house

The Wage and Tax Statement, which shows a person’s earnings and the amounts of income, is also known as the Form _-_.

• W-2

• W-4

• 1099

• I-9

The Employee’s Withholding Allowance Certificate is a federal tax form that is also called the _____.

• W-2

• W-4

• 1099

• I-9

Which tax return form is the simplest form to use?

• Form 1040

• Form 1040A

• Form 1040EZ

• E-filing form

Unearned income is...

• earnings from sources other than work (ex: lottery winnings, interest, rent income)

• the income received from employment, including self-employment