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Taxes Check for Understanding

Authored by James Guy

Social Studies

9th - 12th Grade

Used 7+ times

Taxes Check for Understanding
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are the three largest categories of federal government spending?

infrastructure, defense, science

education, defense, food/agriculture

health, military, interest on debt

military, education, science

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "withholding" mean in reference to your paycheck?

it is the amount of your paycheck that you are NOT being taxed on

it is how much is being taken out of your paycheck in taxes

it is how much you are going to owe the government when you file your annual tax return

it is how much you earn and includes salary, bonus and commissions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When do you start paying taxes?

when you turn 18

when you get a full-time job (part-time does not count)

when you are notified by the IRS that you are required to pay federal income taxes

when you make more than the minimum income requirement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to be extremely careful when completing your 1040 form?

it determines whether you owe additional taxes or are entitled to receive a refund from the government

making even one mistake on your federal taxes can result in your being convicted of a crime

completing the 1040 form incorrectly will mean the wrong amount of taxes will be withheld form your paychecks going forward

mistakes on your 1040 form make you ineligible for employment during the next year

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for federal and state income taxes?

W-2

1099

W-4

I-9

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When determining whether you need to file a federal tax return, each of these questions matter EXCEPT

what state do you live in?

how much income did you earn this year?

what type of income did you earn this year?

are you claimed as a dependent on anyone else's tax return?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What form am I? I am received when you start a job. You use me to prove that you are eligible to work in the US, and you must provide forms of identification when submitting me.

I-9

1099

1040

W-4

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