Filing taxes

What is the difference between gross pay and net pay?

• There is no difference

• Net pay is before taxes and deductions are subtracted; Gross pay is your take-home pay

• Gross pay is before taxes and deductions are subtracted;Net pay is your take-home pay

Which of the following are two mandatory categories of government spending that are paid for by FICA taxes?

• Military and Education

• Health and Veterans' Benefits

• Housing and Transportation

• Social Security and Medicare

When is the deadline to file your taxes each year? AKA: Tax day

• March 15

• April 15

• May 15

• June 15

The W-4 form lets...

• the government know how much you paid in taxes last year

• your employer know how much to withhold from your paycheck

• the 3 major credit bureaus know how many dependents you have

• you know how much you paid in taxes last year

When you receive a new job, you are mandated to file a

• Complaint

• Divorce

• W-4

• W-2

You, if your parents claim you on their taxes.

• Dependent

• Claiming Zero

• Deduction

• Taxable Income

If you paid more than what the IRS thinks you owe in taxes, you have a

• Refund

• Tax bill

Where does the government get most of its money?

• Printed money

• Taxes

• Donations

What type of tax goes to help pay for medical care of people over 65 years old?

• Sales Tax

• Income Tax

• Medicare Tax

What type of tax do you pay when you buy something at the store?

• Income Tax

• Property Tax

• Sales Tax