Paychecks & Taxes

The ___ is a federal government agency that enforces the tax laws and collects taxes.

• Equal Employment Opportunity Commission

• US Department of Labor

• Internal Revenue Service

• US Department of Commerce

The total amount of money earned during a pay period is __.

• Gross Pay

• Take-Home Pay

• Net Pay

• Overtime Pay

Which of the following is a document used to help determine how much of your pay should be withheld for taxes?

• Form 1040

• Form W-2

• Form W-4

• Form I-9

Social Security Taxes and Medicare Taxes ___.

• are set by law, and every wage earner pays the same amount.

• do not require matching payments from employers.

• are paid only by workers in certain industries.

• are figured as a percentage of your earnings.

Which form is the easiest federal tax form to prepare?

• Form 1040

• Form 1040A

• Form W-4

• Form 1040EZ